Citicorp Merchant Bank Limited is underwriting the bond, which takes advantage of the local capital market. WASA will use the proceeds from the bond for infrastructural development projects.
Minister of Public Utilities Emmanuel George said the bond guarantee comes at a critical time. Last week he announced that the country's main reservoir urgently needs repairs to prevent a water crisis.
George said the money would help his ministry achieve its goal of providing water at least twice per week to homes that currently do not receive pipe-born water.
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