Cantabria granted €50 million for water infrastructure

 

The Cantabria region of northern Spain was granted a €50 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 EU, 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."

This news comes barely 2 weeks after the European Commission issued a report which urged Spain to spend less on Infrastructure projects . Instead, the report stated, Spain should concentrate on investing in ventures to encourage the development of small businesses.