ADB to finance Timor project

ADB to finance Timor project

MANILA (AFP): The Asian Development Bank (ADB) has approved a 4.5-million-dollar project to repair the damaged water supply in East Timor, the Philippines-based lender said Wednesday.

The project will be financed by a grant from the ADB-managed Trust Fund for East Timor which was established through contributions from many donors, the ADB said in a statement.

As part of the project, the ADB will set up a water sector management and investment program under the UN Transitional Administration's Water and Sanitation Authority.

The ADB said that repairing East Timor's water system could take three years and cost almost $40 million with as much as $15 million coming from the trust fund.

However, only $4.5 million is available until 2001, the ADB said.