In December 1997, the Caribbean Development Bank (CDB) approved a loan in the amount of USD13.83 million (mn) to the Government of Belize (GOBZ) to assist in financing the Second Water Project - Belize.  This was the second project and the fifth loan provided to GOBZ, by the Caribbean Development Bank (CDB), in the Water and Sewerage sector.

The loan was to finance approximately 79% of the estimated project costs of $34.95 mn (USD17.47 mn).  The funds were to be utilised for: upgrading of intake works and a water treatment plant; supply and installation of a transmission main; upgrading of two re-lift pump stations; expansion of a distribution network; non-revenue water reduction measures (including the installation of new or recalibration of existing bulk flow meters); and upgrading of the computerised billing and accounting system.  The GOBZ and the Water and Sewerage Authority (WASA) were to provide counterpart funding of $0.44 mn (USD0.22 mn) and $6.85 mn (USD3.42 mn) respectively, to meet the remaining project costs.