IFC, The World Bank’s private sector arm, is providing a $20mn financing package to Metito, a leading global provider of water and alternative energy management solutions, to support improved access to clean water and wastewater services in several countries throughout the Middle East and Africa.
The financing will provide Metito with additional liquidity and working capital to help it extend the accessibility of drinking water, improve wastewater treatment infrastructure, reduce waste costs and decrease health risks in the key water-stressed markets where it operates.
Metito's core markets are in the Middle East and North Africa, the world's most water-scarce region. The company is also expanding in sub-Saharan Africa, where it already operates the Kigali bulk water supply project, providing clean water to Rwanda's fast-growing capital.
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