The business model through which TCTA renders services, receives revenue and allocates business risk, is schematically displayed in figure below. It has remained largely unchanged since the organization’s inception more than 30 years ago. TCTA responds to Ministerial directives to implement mainly off-budget national water infrastructure by progressing projects to a state of bankability and securing finance, followed by the procurement of design and construction services. Lenders can draw comfort from the undertaking by government to assume TCTA’s obligations to funders, if it is unable to do so, in terms of project income/implementation agreements. Loans are typically repaid over 20 years.