Minister for The Environment, Community and Local Government Phil Hogan TD said: "I am delighted that the EIB has decided to support my Department’s Water Services Investment Programme with a loan of €200 million which will assist in funding 23 water projects. It is an indication of the Bank’s confidence in the Irish State and our recovery programme and is a good signal for securing third party financing in the future.
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"A programme of water sector reform is currently underway in Ireland, which will see the responsibility for water services delivery moving from local authorities to a new public utility. This will fundamentally change the approach to funding capital investment in the sector in the years ahead including access to third party financing to address the considerable investment requirements of the sector. These reforms will benefit individual householders, but will also attract industries with high water usage like agri-food, pharma-chem and IT. With global demand for water due to rise by 40% in just 20 years, Ireland will be well positioned to attract foreign and indigenous investment, creating real potential for new jobs within the country."
A total of 23 individual projects included in the WSIP will benefit from the EIB investment. The water investment initiative also includes replacement of over 300km of old water mains in Dublin City, South Tipperary, Galway and Limerick. In addition the project will increase drinking water supply through two new reservoirs in Kerry and North Tipperary.
Waste water treatment will be enhanced through six new treatment plants in Kildare, North Tipperary, Kerry, Galway and Roscommon. Three local schemes will specifically ensure safe drinking water supply and 28km of new water mains will be laid in Kildare and 13km in Longford.
(CD/GK)
