The Badirammogo Water User Association (BWUA) on Tuesday said that it has passed a significant financing milestone for one of South Africa’s largest water infrastructure programmes.
Stage 1 of the R25-billion Olifants River Management Model (OMM) Programme has achieved financial close with its mezzanine debt lender, climate-focused blended finance investment manager Climate Fund Managers.
The funding milestone through Climate Fund Managers European Union-supported water, waste and oceans infrastructure fund Climate Investor Two facility, which approved a $86.2-million, or about R1.4-billion, financing facility to support the first stage of the OMM Programme, represents the conclusion of the principal funding, legal and commercial…