All agreed loans

Finland. Turun Seudun Vesi Oy

Date of loan: 6 Jun 2011
Country: Finland
Customer: Turun Seudun Vesi Oy
Amount in EUR: EUR 50 million
Maturity: 30 years
NACE sector / loan type: Collection, purification and distribution of water
Business area: Infrastructure, transportation and telecom

Project

The 30-year-maturity loan totalling EUR 50 million has been provided for financing a Managed Aquifer Recharge (MAR) project in the Turku region in Finland. The artificial recharge project of the Virttaankangas aquifer is a solution implemented by Turun Seudun Vesi in order to safeguard the water supply for seven municipalities with about 290,000 inhabitants.       

Turun Seudun Vesi Oy (Turku Region Water Ltd), owned by the seven municipalities in South-West Finland, acquires and supplies water for the Turku region.

Fulfilment of NIB's mandate

Clean drinking water and a secure supply of water are key elements in the local economy of the Turku region and one of the most important cornerstones in building and maintaining a competitive economy.

Sustainability summary

This is a project with a potentially extensive environmental and/or social impact (category A, read more)

The key environmental issue relates to the long-term changes in the groundwater quality in the Virttaankangas esker area. The quality of infiltrated water is regulated by EU directive 2006/118/EU. As artificial and natural groundwater mix over time, the quality of the groundwater will inevitably change. However, artificial groundwater will not significantly differ from natural groundwater and thus all groundwater resources in the Virttaakangas esker area will remain potable.

Press release

NIB finansierar projekt för rent vatten i sydvästra Finland

 

Press release

Pohjoismaiden Investointipankki rahoittaa vesihuoltohanketta Lounais-Suomessa