GEF CReW’s Component 1: Investment and Sustainable Financing, aims to test four individual Pilot financing mechanisms (PFMs) that will provide innovative financing modalities for wastewater management projects. GEF CReW resources are being used for capitalization of these four PFMs, and for providing technical assistance, such as design services, to ensure that the projects to be financed satisfy the technical, financial, socio-economic and environmental requirements of the CReW and local governments.
Wastewater management projects financed by the PFMs will:
- Be high priority projects for wastewater service providers;
- Have high impact in terms of significant improvements or prevention from further deterioration in the quality of coastal waters;
- Have potential to stimulate policy reforms; and
- Require innovative financial and advisory assistance to bring project financing costs within ratepayers’ ability to pay. Pilot projects in four Participating Countries – Belize, Guyana, Jamaica, and Trinidad & Tobago - will test four individual PFMs.