EIB Supports De Watergroep’s €350M Initiative to Modernize and Expand Flanders’ Drinking Water Network
Summary
The funding supports a comprehensive 2023-2038 plan aimed at reducing water leakage, expanding the network by 800 kilometers, and improving resilience to climate-related challenges. EIB and De Watergroep aim to ensure sustainable water supply for over 3.3 million residents, with a particular focus on upgrading aging pipelines and deploying sensor technology to detect leaks. This financing will enable De Watergroep to overhaul aging infrastructure, extend its distribution network by 800 kilometers, and implement measures to combat water leakage and reduce energy use, bolstering the environmental sustainability of its operations.As part of this support, De Watergroep has initially drawn 200 million from the EIB, covering nearly half of its 2023-2028 investment program. This program prioritizes renewing old pipelines, installing sensors for leak detection, and adapting the water system to mitigate climate-related risks, such as prolonged dry spells and extreme weather patterns.EIB Vice-President Robert de Groot emphasized the importance of water security and climate resilience in Belgium, stating, We are pleased to partner with De Watergroep in ensuring reliable, safe drinking water for Flanders, especially as climate challenges intensify.De Watergroep CEO Hans Goossens highlighted that the loan is essential to the utilitys efforts to make the infrastructure future-proof, ensuring that over 3.3 million customers in Flanders have a dependable and sustainable water supply. Through Riopact, the company is a partner for municipal waste- and rainwater management, whereas subsidiary Azulatis offers innovative tailor-made water solutions to businesses.