KINGSTON, Jamaica – The Inter-American Development Bank (IDB) has provided long-term financing for up to JA$12 billion (US$79 million) to fund the Rio Cobre Water Treatment Plant in Kingston.

The project is billed to provide daily supply of 15 million imperial gallons of water and address growing demand in the Kingston Metropolitan Area and St Catherine, enhance water reliability, and strengthen the country’s resilience to climate change, benefiting over 600,000 Jamaicans.

The IDB said in a press release Monday that the funding includes a US$30 million loan from IDB Invest and US$49 million mobilised from partners, including Proparco, Sagicor Bank Jamaica Limited, and the Development Bank of Jamaica.

The financing has an extended repayment period of up to 20 years, terms previously unavailable in the local market and specifically designed to ensure affordable water tariffs for Jamaicans.

The project is a public-private partnership agreement between the National Water Commission and Rio Cobre Water Limited.

During the signing ceremony in Kingston, Matthew Samuda, Minister without Portfolio in the Ministry of Economic Growth and Job Creation, was present alongside key representatives from the National Water Commission.