EIB board approves €177m funding to upgrade water infrastructure and improve flood protection in 3 member States
- March 15, 2019
- Posted by: Elaine Coles
- Category: Investment and Finance, Europe
The Board of Directors of the European Investment Bank (EIB) has approved €177 million of new financing for new long-term investment to improve water supply, wastewater treatment and flood protection in Kosovo, Belarus and the Netherlands.
In Kosovo, the EIB will support a project to ensure that all wastewater from the fourth largest city, Gjilan, is treated.
EIB finance will also be used to upgrade water and wastewater services in Belarus, and improve the treatment of drinking water that currently exceeds internationally accepted levels of iron content.
In the Netherlands, in cooperation with NWB Bank, the EIB will support new investment by regional water authorities to improve flood protection and water management. The initiative will help to adapt existing infrastructure to a changing climate as outlined in the national Delta Programme.
The funding is part of a €2.4 billion package of new financing approved by the EIB to improve public services, upgrade infrastructure and strengthen private sector investment.
“The projects the EU Bank approved today will help people in very concrete ways: getting them quicker where they want to go, giving them access to cleaner water, helping them find affordable homes and get better hospital treatment. The EIB is Europe’s climate bank, and projects like the ones we approved today help us tackle climate change and its consequences, a challenge that is becoming an ever more urgent priority for Europe and the world”, said Werner Hoyer, President of the European Investment Bank.