World Bank offers financial support for Urban Water Project
28 March 2012
The World Bank has confirmed that it has approved a new tranche of financing to the government of Ghana, with the money set to be used to fund the ongoing Urban Water Project.
Indeed, the Bank confirmed that it has agreed to provide an additional US$50 million, which is nearly half of the overall financial grant of US$103 million.
Unfortunately, the original project was undermined by unforeseen costs.
But with the new financing now secured, the Urban Water Project can now be developed and expanded, meaning that clean water will soon be available to people in previously neglected parts of the west African state.
Ventura Bengoechea, task team leader of the Urban Water Project, told worldbank.org: "The additional financing approved by the board of the World Bank today will allow the project to fully achieve and even exceed the targets that were originally contemplated with regard to people gaining access to water in selected urban areas throughout the country."