VITENS - AFFORDABLE DRINKING WATER SUPPLY II

The project concerns the 2025-2029 investment programme into the production and distribution facilities of VITENS, Netherlands' largest water supply company. The programme consists mainly of renewal and upgrading of water treatment plants, reservoirs, pumping stations, and distribution networks aimed at providing an even more reliable and climate resilient drinking water supply.

The project will secure and continue to enhance the quality of life to up to 6 million residents in the provinces of Flevoland, Friesland, Gelderland, Utrecht and Overijssel, by improving the reliability and efficiency of the water supply service. The project will ensure continued compliance with the Water Framework Directive (2000/60/EC), the Drinking Water Directive (2020/2184) and national norms.

The Project is in line with the InvestEU objective of Environment. The suggested programme will consist in the expansion and upgrade of the water treatment, transport and distribution infrastructure for drinking water supply, bringing existing facilities into continued compliance with key European water directives as well as enhancing the robustness and resilience of the water supply system and service quality. Overall, the project is aligned with the European policy of the protection of the environment and the European Green Deal, consistent with the national / local priorities (e.g. Drinking Water Policy Paper 2021, Action Plan on Available Drinking Water Sources, Dutch Climate Act, etc). The Project will contribute to the Bank's policy objectives of Sustainable Energy and Natural Resources, as well as horizontally to Climate Action and Environmental Sustainability. The Project will also contribute to improving the efficiency of the water supply system while increasing its resilience against climate related risks.

These benefits would not be realized to the same extent without public intervention. The operation will allow for sufficient financial resources for the timely implementation of the project, as well as for the investments to be spread out and that the tenor of the loan links in with the economic life of the respective assets. The EIB loan will provide key support, ensuring optimal funding conditions in terms of costs and tenor, diversifying the borrower's funding base and potentially attracting other co-lenders to the projects. Given the counterparty's high investments level combined with increasing level of indebtedness and own funds exposure ratios towards banks, the guarantee substantially enhances the EIB contribution in terms of loan amount, tenor and risk structure (unsecured).

The project would not have been carried out (to the same extent) by the EIB without the InvestEU support.

The Promoter must ensure compliance with national and European environmental legislation and facilitate access by the public to environmentally relevant information in accordance with the Aarhus Convention. The Environmental Impact Assessments (if required) as well as the screening according to the relevant criteria listed in Annex III of the EIA directive 2011/92/EC as amended by Directive 2014/52/EU will be made available to the Public. The EIAs (if required) will be published on the EIB website. Consultations with affected communities and interested parties will take place in line with the requirements of the Directives.

The Bank will require the Promoter to ensure that contracts for the implementation of the project have been and will be tendered in accordance with the relevant applicable EU procurement legislation: Directive 2014/25/EU, where applicable, as well as Directive 92/13/EEC, as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.