The European Investment Bank (EIB) – one of the world’s biggest public lenders for water -attended the UN Water Conference to join the call for more investment in water to tackle the global development and climate challenges. The EIB, owned by the 27 European Union countries, was represented by experts from its water and global directorates and by its Vice-President in charge of climate action and development, Ambroise Fayolle. Vice-President Fayolle spoke at the conference and participated in a number of side events, amongst them “Scaling up Water as Leverage for worldwide urban climate resilience” and the European Commission-chaired “Launch of the Team Europe Initiative on Transboundary Water Management in Africa”.
On World Water Day, 22 March, the EIB published its new Water Sector Orientation. The document presents the Bank’s investment priorities covering ways to finance conventional infrastructure as well as innovative approaches, such as circular economy, nature-based solutions, and digitalisation. It highlights the types of investments which maximise the Bank’s impact, especially to achieve its climate and environmental objectives.
On average the European Investment Bank finances €3bn in water infrastructure every year. Around 30% of EIB water projects are carried out outside the EU, including in some of the world’s poorest and drought-stricken countries in Africa, Asia, Latin America or the Middle East. Projects financed alongside regional partners connect cities and villages to clean water and sanitation, enable flood resistant infrastructure and encourage communities to recycle their water.
The UN Water Conference, co-hosted by Tajikistan and the Netherlands, took place for the first time in half a century. It brought together governments, intergovernmental organisations, international financial institutions, the scientific community, representatives from civil society and other stakeholders. The conference provided a unique opportunity to discuss water security and tackle the world’s many water-issues head-on.
EIB Global is the EIB Group’s specialised arm dedicated to increasing the impact of international partnerships and development finance. EIB Global is designed to foster strong, focused partnership within Team Europe, alongside fellow development finance institutions, and civil society. EIB Global brings the Group closer to local people, companies and institutions through our offices across the world.
Source: European Investment Bank | News (https://bit.ly/3lHUo1d)