In the Netherlands, water utility Evides will be using a €190 million ($217.5 million) loan secured from the European Investment Bank (EIB) to improve the resiliency of its network against climate change.
Evides will use the loan to fund the implementation of its 2020-2024 strategy which includes the rehabilitation and upgrading of production installations, storage facilities and pumping stations.
The loan will help the utility to improve the quality and functionality of water treatment and distribution facilities.
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The water company will also increase the resilience of surface water supply during long periods of extreme weather events.
By providing reliable and affordable water supply service, Evedis will secure or enhance the quality of life of up to 2.5 million residents in the provinces of Zeeland, the south-west of the province South-Holland and the west of the province North Brabant.
Els Sweeney-Bindels, the head of EIB in Amsterdam, said: “Many people don’t realise the amount of work and investment that goes into the upkeep of such a high-quality water network as that of the Netherlands.
“The EIB has a long track record in the country, having financed nearly all water companies in the last five years, and we’re happy to support Evides again in their push to provide high-quality water to their clients.”
Edgar Ruijgers, the CFO at Evides, adds: “This new facility underlines the mutual trust between the EIB and Evides Waterbedrijf. As a company, we are glad to be able to count on the financial support of the EIB to realise our investment ambitions for a reliable water supply in the years to come.”
This is the second operation with Evides funded by the Bank, after a previous operation in 2014.
Evides Waterbedrijf supplies water services to 2.5 million customers.