Brussels, 18/06/2012 (Agence Europe) - On 14 June, the European Investment Bank (EIB) announced that it would be granting a €350 million loan to Acuamed to finance investment in water and sanitation improvements on the Mediterranean coast of Spain. This is the first instalment of a total loan of up to €500 million.
This EIB loan will be used to finance investment in the water supply, wastewater treatment and environmental protection in Spain's five Mediterranean river basins (Ebro, Júcar, Segura, Andalusian Mediterranean and internal Catalonian basins). The planned schemes are scheduled to run up to the end of 2015 and comprise: - interconnections between treatment plants and water mains; - connections between desalination plants and water distribution networks; - environmental recovery and flood prevention; - reuse of wastewater; - and improving the efficiency of irrigation.
In a press release, the EIB explained that, “as well as helping to meet the growing demand for water for domestic and industrial use and enabling the reuse of wastewater on the Mediterranean coast, this loan will bring major environmental benefits by improving water supply systems, rehabilitating irrigation networks and developing desalination plants and new water treatment facilities”. The EIB also added that, “The project will also foster economic and social cohesion as part of the investments financed are located in convergence regions”. (OL/trans/fl)