The European Investment Bank (EIB) announced it has renewed its water sector investment policy to adjust it to developments and challenges of the sector.
“The renewed water lending policy will help EIB to further strengthen its role as a major global financier of the sector and as the ‘EU Water Bank,'” EIB said.
The bank said it has emerged as the largest source of loan financing to the global water sector, compared to all other international financing institutions. In the last five years, EIB lent 10 billion euros (US$14.1 billion) directly to water and wastewater projects.
EIB said it reaffirms its commitment as a major lender to the water sector inside and outside the European Union. It said the renewed policy reaffirms the bank’s good track record, provides further leverage, increases its valued added in the sector, and enhances EIB’s climate change policy by complementing ongoing mitigation measures with an adaptation strategy.
“The EIB’s involvement adds significant value to water projects through project preparation, as well as advisory and technical assistance activities,” EIB said. “The bank’s intervention will be predicated on maximizing value added, and priorities will be determined on this basis.”
EIB said its unique strengths include the ability to transfer sector and project experience from Europe to other parts of the world.