CEB to provide €50 million for long-term Bratislava Water Company investments
18 June 2018
PARIS – The Council of Europe Development Bank (CEB) has approved a €50 million loan to the Bratislava Water Company (BWC) in order to finance its long-term investments in water production and distribution as well as in waste water collection and treatment.
The loan request was approved by the Administrative Council of the CEB at the annual Joint Meeting of the Bank, which this year was held in Bratislava on 15 June.
The BWC is responsible for the production and distribution of drinking water as well as the collection and treatment of wastewater, and provides its services to over 700,000 people across three regions. Its mission is to supply high-quality drinking water and restore it in good conditions into the environment, ensuring the ecological sustainability of the water cycle.
The CEB funds will finance the gradual replacement of the BWC’s water pipe network dating from the 1970s in order to reduce potential leakages and prevent disruptions in water supply.
The project is expected to have significant benefits. It will help to bring the regional coverage of water supply and waste treatment services to the same level as that of other capital city regions in Europe. It will also enable the Slovak Republic to reach its water quality targets in accordance with the objectives of the EU Water Framework Directive.
In addition, the project will contribute to climate change mitigation through the gradual renewal of the company’s equipment and technology, with an estimated reduction in energy use of approximately 30% following the investment.
“The Slovak Republic and the CEB have an excellent cooperation and this new loan reaffirms our strong partnership,” said CEB Governor Rolf Wenzel. “Over the years, the CEB has provided financing for a variety of social investments for the modernisation of public infrastructure in Bratislava and throughout the country. With this project, we will be helping the BWC to improve its supply and services, enhance its energy efficiency and strengthen its climate mitigation and prevention action,” he concluded.The Slovak Republic, a CEB member since 1998, has had over €1.2 billion in loans approved by the Bank for social projects. The sectors which have benefited the most from CEB financing are urban and rural modernisation, protection of the environment, job creation and preservation, social housing, and education.
Set up in 1956, the CEB (Council of Europe Development Bank) has 41 member states. Twenty-two Central, Eastern and South Eastern European countries, forming the Bank's target countries, are listed among the member states. As a major instrument of the policy of solidarity in Europe, the Bank finances social projects by making available resources raised in conditions reflecting the quality of its rating (Aa1 with Moody's, outlook stable, AA+ with Standard & Poor's, outlook positive and AA+ with Fitch Ratings, outlook stable). It thus grants loans to its member states, and to financial institutions and local authorities in its member states for the financing of projects in the social sector, in accordance with its Articles of Agreement.