$87m EIB Support for Water Desalination in Djibouti

The European Investment Bank, the world’s largest international public bank, has agreed to provide $87 million financing to support water desalination, access to clean drinking water and wastewater treatment in Djibouti.
EIB’s first-ever support for water investment in 44 years of operations in the East African country will secure access to clean water for 555,000 people, enhance resilience to climate change and generate solar renewable energy, Zawya reported.
Its first investment in Djibouti through its new development finance arm EIB Global will double freshwater production capacity at the Doraleh Desalination Plant and expand three wastewater treatment plants at Doraleh, Balbala and Douda. 
The 25-year EIB loan to Djibouti’s Ministry of Economy and Finance, guaranteed by the European Union’s Neighborhood, Development and International Cooperation Instrument, will be used alongside grants from the European Union and the French Development Agency, as well as support from the Djibouti government.