Europe’s long-term lending institution, the European Investment Bank, has agreed a new £530 million long-term loan to support Severn Trent’s five year AMP6 investment programme.
The European Investment Bank is owned by the 28 EU member states, including the UK government and is the largest lender to the UK water sector.
Jonathan Taylor, Vice President of the European Investment Bank, commented:
“The European Investment Bank is committed to supporting long-term investment in water infrastructure across the UK and around the world. The new support represents one of the largest ever loans by the EIB for investment in the UK water sector and is testimony to the hard work done by Severn Trent in recent years and their ambitious plans for the future.”
The current five year regulatory price review period, running from 2015-2020, will see Severn Trent’s largest ever investment programme, totalling £6.2 billion in real terms. Of this, the capital investment programme totals £3.3 billion, which includes schemes such as the £255 million Birmingham resilience project.
The new £530 million loan is one of the largest ever loans agreed between the European Investment Bank and a UK water company. Since 1978 the Bank has provided more than £2 billion for investment in water infrastructure across the Severn Trent region.
Last year the European Investment Bank provided a record £6 billion for long-term investment in key infrastructure across the UK including support for new hospitals, better water and sewerage infrastructure, renewable energy and energy transmission and private sector investment.
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