- Eleventh loan agreement between EIB and Aquafin; EUR 100 mln to expand waste water treatment infrastructure for Flemish cities and municipalities.
- Financing will be used to finance investments that will further boost the percentage of treated waste water in Flanders between 2020 and 2022.
The European Investment Bank (EIB) and the Flemish wastewater treatment company Aquafin have signed a new loan agreement, this time worth EUR 100 million. It concerns the first tranche of the eleventh framework agreement between the two parties, which has a total value of EUR 200 million. The funds will be used to expand the collection and treatment of waste water in Flanders. Currently slightly over 84% of all waste water in Flanders is collected and treated, partially through this loan facility, that percentage is set to climb further in the coming years.
Apart from a number of smaller projects, Aquafin will build 3 new waste water treatment facilities and expand 5 existing installations, all of which are located at less than 50 km from the North Sea coast. Since the project will result in a significant reduction of untreated rain and waste water reaching the North Sea, the loan contributes to the “Clean Oceans Initiative”. Furthermore, a lot of existing infrastructure will be optimised or replaced, for example with separate sewage for rain- and waste water.
Through this loan, Aquafin also contributes to the EIB’s climate objectives, since 51% of the sub-projects covered under the facility have a direct positive link with regard to climate change. The execution of these project is expected to create 4.700 FTE in employment. The installations that will be built and renovated will treat the waste water more efficiently, leading to a reduction in energy use and CO2-emissions. Energy efficiency measures will be carried out on all connected installations under the project.
“We are glad to support Aquafin’s investments to help the Flanders region mitigate and adapt to the adverse impacts of climate change, one of the main priorities for the EIB” says EIB Vice-President Emma Navarro, responsible for climate action. “This project fits perfectly with our commitment to scale up climate financing and mainstreaming climate in everything we do: treating waste water more efficiently results in the reduction of carbon emissions while investments in sewerage, drainage systems and pumping stations improve adaptation to climate events. At the same time, by reducing untreated and waste water reaching the sea, the project will contribute to implementing the Clean Oceans Initiative.”
“This EIB financing supports Aquafin and Flanders in meeting several objectives,” states Aquafin CEO Jan Goossens. “through a further expansion of the treatment infrastructure, the recovering aquatic fauna in streams and rivers will get a necessary breath of air. In case of heavy rains, the targeted disconnection of rainwater reduces both the risk of flooding and the chance that untreated water flows into surface waters. Furthermore, these decoupling projects stimulate the local re-use of water, which is important in bridging long draught periods. Last but not least, through our side-projects for energy efficiency and the production of renewable power, we give a significant contribution to the Flemish climate targets.”
Since investments have an impact on man, nature and society, the EIB puts great importance on the sustainability of the projects it supports.
Background information:
Aquafin is commissioned by the Flemish Region to build and manage the infrastructure for the treatment of waste water for around 5 million Flemish people. To this end, the Flemish Region dedicates a project program to the company every year, including projects for which the region takes over the investments from the municipalities to ease financial pressure. At present, Aquafin has already delivered EUR 4 billion in projects for the Flemish Region and has a further EUR 1.7 billion in projects in its portfolio.