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European Investment Bank to Provide Funds for Irish Water

Jan. 24 (Bloomberg) -- The European Investment Bank will provide 200 million euros ($267 million) in funds to help improve Ireland’s water infrastructure, including the replacement of water mains in Dublin, the bank said today.

“Investment in the Irish water infrastructure will significantly enhance water conservation measures, improve drinking water quality and reduce risks of pollution,” European Investment Bank Vice President Jonathan Taylor said today in an e-mailed statement.

Ireland’s environment minister Phil Hogan said the improvements from the 25-year EIB loan for 23 projects will cut Irish losses in water networks, benefit households and help attract industries with high-water usage “such as agri-food, pharma-chem and IT.”

The water initiative includes replacing more than 300 kilometers (186 miles) of water mains in Dublin, South Tipperary, Galway and Limerick. Reforms in the Irish water sector will also increase the drinking water supply through two new reservoirs in Kerry and North Tipperary.

To contact the reporter on this story: Colm Heatley in Belfast at cheatley@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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