European Investment Bank lends 350m euros for investment in Flemish water network
De Watergroep, the largest drinking water company in Flanders, has received a loan of 350 million euros from the European Investment Bank (EIB). According to a joint press release issued on Thursday, the parties have signed an agreement for the first tranche of 200 million euros.
De Watergroep is the largest drinking water company in Flanders. It has a network of more than 34,500 kilometres of water pipes serving more than 3.3 million customers in the region. Thanks to the loan, the company will be able to thoroughly renovate its water network and reduce leakages and energy consumption.
Specifically, the EIB funds will be used "for the renewal, extension and replacement of drinking water pipes and branches within the network, including some 800 kilometres of new pipes," the press release states.
Climate adaptation
Another objective of the loan is to enable De Watergroep to better adapt its network to the risks of climate change, such as more frequent and longer droughts. "Water and adaptation to climate change is one of the core sectors of our investments in Belgium," the EIB said.
The loan has been granted for the next five years and covers almost half of the company's multiannual programme. Last year, the EIB financed projects in Belgium for more than 2.1 billion euros.
#FlandersNewsService | PHOTO © Lionel BONAVENTURE / AFP
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