Cantabria Region of Spain Granted $65 Million for Water Projects

The Cantabria region of northern Spain was granted a 50 million-euro ($65 million) loan by the European Investment Bank to help finance water and sewage infrastructure projects.

The funds from the Luxembourg-based EIB, a lending arm of the European Union, are meant to increase the reliability and efficiency of water supplies in coastal areas of the northern province and improve wastewater management, the bank said.

“Against a background of water shortages, these schemes will have clear environmental benefits, contributing to the efforts to adapt to climate change and meet water demand,” it said in a statement. “The sanitation investments will also help to reduce pollution by improving the quality of discharges into surface and coastal waters.”

To contact the reporter on this story: Randall Hackley in London at rhackley@bloomberg.net

To contact the editor responsible for this story: Randall Hackley at rhackley@bloomberg.net