USAID Awards Tetra Tech $40 Million Contract for Water, Sanitation, and Hygiene Finance
October 13 2016 - 09:00AM
Business Wire
Tetra Tech, Inc. (NASDAQ: TTEK) announced today that the U.S.
Agency for International Development (USAID) has awarded the
Company a $40 million, single-award contract to mobilize finance
needed to achieve universal access to climate-resilient water and
sanitation services. Under the five-year program, Tetra Tech will
support USAID’s Water and Development Strategy by advocating,
tracking, and securing increased public and private financing for
sustainable water supply and sanitation services in Africa and
Asia.
Globally, 663 million people do not have access to clean
drinking water and 2.4 billion people lack access to proper
sanitation; however, public resources for funding water and
sanitation projects in developing countries are extremely limited.
In collaboration with USAID, national governments, development
partners and local stakeholders, Tetra Tech will work to close this
financing gap and improve governance structures through project
preparation support and utility management trainings that enable
priority countries to access reliable sources of capital for water
and sanitation infrastructure projects. Tetra Tech will also
develop a unique information and technology system for tracking and
advocating public investment in the water and sanitation markets.
The system will strengthen the ability of USAID and development
partners to understand, scale, and replicate successful approaches
to water and sanitation financing in developing countries.
“Tetra Tech has proven experience developing innovative
solutions to some of the world’s most critical water resource and
infrastructure challenges,” said Dan Batrack, Tetra Tech’s Chairman
and CEO. “We look forward to continuing our support of USAID’s
efforts to achieve universal access to sustainable water and
sanitation services.”
About Tetra Tech
Tetra Tech is a leading provider of consulting and engineering
services. For 50 years, the Company has supported commercial and
government clients focused on water, environment, infrastructure,
resource management, energy, and international development. With
16,000 staff worldwide, Tetra Tech provides clear solutions to
complex problems. For more information about Tetra Tech, please
visit tetratech.com, follow us on Twitter (@TetraTech), or like us
on Facebook.
Any statements made in this release that are not based on
historical fact are forward-looking statements. Any
forward-looking statements made in this release represent
management’s best judgment as to what may occur in the
future. However, Tetra Tech’s actual outcome and results are
not guaranteed and are subject to certain risks, uncertainties and
assumptions ("Future Factors"), and may differ materially from what
is expressed. For a description of Future Factors that could
cause actual results to differ materially from such forward-looking
statements, see the discussion under the section "Risk Factors"
included in the Company’s Form 10-K and 10-Q filings with the
Securities and Exchange Commission.
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Tetra TechJim Wu, Investor RelationsCharlie MacPherson, Media
& Public Relations626-470-2844
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