The European Investment Bank (EIB) and wastewater treatment company Aquafin have signed a new €100 million ($117 million) financing package to expand wastewater collection and treatment in Flanders, Belgium.
The latest financing concerns the second tranche of the 11th financing agreement between the two parties that was first signed in 2019, for a total value of €200 million ($235 million).
Apart from a number of smaller projects, the new tranche of funds will be used to finance the construction of three new wastewater treatment facilities and expand five existing installations. In addition, existing infrastructure will be refurbished or replaced, resulting in a significant reduction of untreated rain and wastewater reaching the North Sea as part of the Clean Oceans Initiative.
More than 85 percent of all wastewater in Flanders is currently collected and treated. With the help of this EIB loan, that figure is expected to jump to 98 percent by 2027.
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