NWB Bank and EIB Agree on an Extra EUR 500 Million for Sustainable Economy
The European Investment Bank (EIB) and The Nederlandse Waterschapsbank N.V. (NWB Bank) have signed a loan agreement for EUR 250 million.
The EIB is making the funding available to NWB Bank, which will then invest EUR 500 million in improving the sustainability of social housing construction and helping water boards with their plans in the area of the circular economy. This loan follows on from the collaboration initiated late last year which has so far resulted in EUR 800 million in funding for projects in social housing construction, the environment, the knowledge economy and the water sector. The collaboration between these two promotional banks was initiated not only in order to bring about an exchange of knowledge and experience but also to provide funding on even better terms for the public sector in the Netherlands. The EIB is making available a loan facility of EUR 250 million, a large proportion of which will be reserved for projects focusing on climate control.
“We are glad to be working together with the EIB to help to deliver on the sustainable agenda of the water boards and social housing construction in the Netherlands”, commented Menno Snel, Chairman of the Board of the NWB Bank.
Vice-President Pim van Ballekom of the EIB commented: “NWB Bank has a similar strategy when it comes to delivering smaller projects. Although the EIB is the largest multilateral financial institution in the world in terms of volume, we are a relatively small organisation. To reach smaller projects we therefore always work with local intermediaries. We are continuing to build on an excellent collaboration that began in late 2014 and has led to EUR 800 million in small-scale public sector investment in the Netherlands.”