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ADB sells second Water Bond Print E-mail
Posted by Administrator   
Thursday, 02 February 2012
ImageKathmandu: The Asian Development Bank (ADB) is selling its second Water Bond to Japanese investors to help finance its work in the water sector. The Water Bond, denominated in Turkish lira, will be issued in February. ADB will provide assistance in an amount at least equal to the net proceeds of the bond to water-related projects in the region, such as new water supply systems in urban areas, major rehabilitation of existing irrigation systems, and investment in wastewater management.

“Hundreds of millions of people in developing Asia don’t have clean water to drink. Water to irrigate crops isn’t always available and water supplies are becoming scarcer due to pollution and climate change,” said vice president of Finance and Administration at ADB Thierry de Longuemar. “Through ADB’s Water Bonds, investors can support projects that directly answer this critical need for sufficient safe water.” Demand for water from households and industry in Asia is soaring and is forecast to grow at ranges from 70 per cent to 345 per cent between 1995 and 2025. Despite large investments in water systems since the 1980s, supply is still inadequate. About 750 million people in rural areas in Asia and another 100 million in urban areas have no access to safe drinking water.
Water is a key component of ADB’s long-term strategy to reduce poverty in the region and its lending in the sector is targeted at more than $6.6 billion in 2012 and 2013.

Source: The Himalayan Times, February 2, 2012
 
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