Bank announces €100 million loan for German water supply scheme
The European Investment Bank (EIB) has announced a €100 million (£62 million) loan for the completion of a water supply scheme, including environmental protection measures.
The development comprises a new drinking water storage dam, designed to store raw water for human consumption and to contribute to flood protection, which is to be constructed in Thuringia, in central Germany, described as the ‘green heart’ of the country. The project is scheduled for completion in 2005.
The project falls into the EIB’s remit to support the European Union’s policy of providing long-term finance for economically sustainable investment projects, particularly in less advanced regions. Eastern Germany has attracted a total of €14.3 billion (£8.9 billion) from the EIB, half of total Bank lending in the Federal Republic since 1990.
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