Brussels, 15/11/2011 (Agence Europe) - The European Investment Bank (EIB) has agreed to support the ambitious investment by United Utilities that will improve water supply and wastewater management that will take account for predicted climate change and demographic developments. Agreement for £400m funding from the EU's long-term lending institution was signed in Manchester by Russ Houlden, United Utilities' Chief Financial Officer, and Simon Brooks, European Investment Bank Vice-President for the United Kingdom.
The EIB is the largest lender to the UK water sector and this funding will benefit 6.8 million people across North-West England through individual schemes to improve drinking water quality and enable more energy efficient treatment of wastewater. EIB funding will include support for projects that take account of the potential impact on water and wastewater of extreme weather events and climate variability over a 25-year period and form the first phase of United Utilities' capital expenditure programme for the 2010-2015 regulatory programme. (OL/transl.jl)