EIB Global, the development branch of the European Investment Bank, is providing a loan of $191 million to the Indian government to enhance and expand water infrastructure in Uttarakhand, a northern state. This initiative marks EIB Global’s inaugural project in India and focuses on improving water supply and sanitation as the region experiences significant growth in agriculture, manufacturing, and tourism.
The funds from the EIB Global loan will facilitate essential upgrades to water and sanitation systems, incorporating measures for continuous monitoring to minimize leaks, automatic meter readings, increased automation at facilities, real-time remote data collection, and new connections for underserved communities. Approximately 900,000 residents in Uttarakhand will benefit from these improvements, which are expected to be completed within five years. EIB Vice-President Nicola Beer announced the loan agreement today.
“Enhancing clean water supply and sanitation infrastructure in Uttarakhand will have a positive effect on public health. Up-to-date wastewater treatment, leak reduction, and a more efficient water supply will greatly assist low-income households,” stated EIB Vice-President Nicola Beer.
This marks the EIB’s first engagement in India’s water sector, aligning with the European Union’s Global Gateway Investment Agenda, which seeks to bolster critical infrastructure globally.
EIB Global’s support will also include water and sewer connections for low-income households in Uttarakhand, where women and girls often bear significant caregiving responsibilities for family members affected by inconsistent supply and inadequate sanitation services.
Source: EIB Global
