USAID Awards Tetra Tech $40 Million Contract for Water, Sanitation, and Hygiene Finance
PASADENA, Calif. – 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.