- EUR 200 million for small and medium scale sub-projects by local water authorities, with a focus on sustainability.
- Financing will help Dutch water authorities adapt to adverse effects of climate change, by supporting flood-risk reduction and water resources management schemes.
The European Investment Bank (EIB) and Nederlandse Waterschapsbank N.V. (NWB Bank) are making EUR 200m available for climate-relevant investments by local water authorities in the Netherlands. The financing will mainly benefit flood protection and water resources management projects, thus benefitting all Dutch citizens. Through the collaboration with the EIB, NWB Bank will offer even more advantageous financing to its clients, by passing on the EIB’s borrowing conditions.
“People often underestimate the importance of local water authorities," says Heinz Olbers, EIB Director for lending operations Western-Europe. “Yet, especially in The Netherlands, these bodies carry huge responsibility for keeping the country dry and managing its water resources – especially in the face of climate change. NWB Bank has been a natural partner to finance water-related projects for many years now, and we’re overjoyed to continue this collaboration.”
Under the project, the EIB will lend EUR 100 million to NWB Bank, with advantageous conditions and a tenor of 25 years. Under its mandate, the EIB can lend up to 50% of the total amount to any single project, with NWB Bank providing the other half. Thus, a total of EUR 200 million will become available for local investment schemes by the Dutch water authorities.
Frenk van der Vliet, Chief Commercial Officer of NWB Bank, added: "The water authorities set the tone when it comes to climate adaptation and mitigation, as well as biodiversity. They are also frontrunners in limiting their own use of energy and sustainably producing it. By providing financing under attractive conditions, we bring the sustainability goals one step closer.”
The European Investment Bank (EIB) is the long-term lending institution of the European Union, owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. In 2018 alone, the Bank made available around EUR 2 bln in loans for Dutch projects in various sectors, including research & development, transport, healthcare and SMEs.
The EIB is the European Union's bank; the only bank owned by and representing the interests of the European Union Member States. It works closely with other EU institutions to implement EU policy and is the world’s largest multilateral borrower and lender. The EIB provides finance and expertise for sustainable investment projects that contribute to EU policy objectives. More than 90% of its activity is in Europe.
Nederlandse Waterschapsbank N.V. (NWB Bank)is a national promotional bank which shares are, since it was founded in 1954, held by Dutch public authorities. The bank primarily serves local and regional authorities (water authorities, municipalities and provinces), as well as institutions that are government guaranteed such as housing associations and health care institutions. The bank is also active in the field of public-private partnerships ("PPP") and sustainable energy projects. NWB Bank provides its clients with the required financing subject to the most favourable terms, tailored specifically to the individual client and with a special focus on sustainability. NWB Bank funds its activities on the international money and capital markets on the back of its AAA/Aaa ratings and is a leading issuer of Green and Social Bonds. As a significant bank, NWB Bank is supervised by the European Central Bank (ECB).