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The Netherlands, EIB scale up support for water and sanitation projects in developing countries

22nd March 2022

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

     

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The Netherlands has committed to provide €25-million of new support for the European Investment Bank- (EIB-) managed Water Sector Fund.

The agreement, sealed at the World Water Forum, in Dakar, extends the scope of the Water Sector Fund and will enable the EIB to make water projects more sustainable, improve climate resilience of infrastructure and help mobilise additional funding from other financiers or investors.

“Sharing knowledge, experience and innovation is crucial to increase sustainable access to safe water, to protect people and infrastructure from flooding and to address water scarcity,” said Netherlands Special Envoy for International Water Affairs Henk Ovink.

“The EIB welcomes the €25-million backing by the Dutch government to scale up the Water Sector Fund that will increase the impact of water investment to benefit fragile regions in the years ahead,” added EIB development and climate action VP Ambroise Fayolle.

The Water Sector Fund was established by the Netherlands and the EIB in 2017 to support implementation of water and sanitation projects in low and lower-middle-income countries.

It combines the unique commitment of the Netherlands to address global water challenges and the extensive experience of the EIB investing in water worldwide.

Since its creation, the Water Sector Fund has provided technical assistance for projects to increase water supply, improve sanitation and strengthen the resilience of water infrastructure to a changing climate.

The Water Sector Fund will now also benefit from an extended scope by using financial instruments, such as guarantees, to mobilise private sector investment for Sustainable Development Goal six.

Edited by Creamer Media Reporter

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