Interview with David Arison: Performance-based financing for water projects

Over 35 percent of the drinking water produced in the region is lost in the distribution systems. David Arison, controlling shareholder of Miya and Bank Hapoalim, offers a way out. In 2012, the water company that served the city of Nassau, and the surrounding New Providence Island, was unable to meet the needs of its 250,000 clients, a major problem since that’s, roughly, 70 percent of the total population of The Bahamas. The Water and Sewage Corporation (WSC) ran a costly and inefficient production and distribution process which caused daily shut-downs, and a poor all-around service. “WSC was contemplating expansion of its production facilities by 2 million imperial gallons per day (Migd) to meet rising demand and water losses,” Philip […]