Acuamed, the Spanish public corporation “Aguas de las Cuencas Mediterráneas” has been granted with the first instalment (€350 million) of a total loan of up to €500 million by the European Investment Bank (EIB). In particular, the loan will finance investments in the water supply, wastewater treatment and environmental protection in Spain’s five Mediterranean river basins.

The European Investment Bank (EIB) has a granted a €350 million loan to Acuamed, the Spanish public corporation “Aguas de las Cuencas Mediterráneas”, to finance investment in water and sanitation improvements on the Mediterranean coast of Spain. The funding will be used to finance to 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). In 2010, Malawians were also granted with funding from the European Union and European Investment Bank for water facilities improvements.

This loan granted to Acuamed is the first instalment of a total loan of up to €500 million. 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.

EIB loans are designed to meet clearly defined EU policies. In this particular case, the loan is granted under EU objectives, such as environmental improvement (an important area of which is the water sector) and economic and social cohesion (as part of the investments financed are located in convergence regions) which are both top priorities for the Bank.