The grant will be combined with the existing €150m EIB loan facility with ILBANK for funding of municipal investment schemes in the water, waste water and solid waste sector.
The agreement will enable ILBANK and its municipal customers to receive grants of the European Commission (EC).
EC grants are expected to improve the institutional capacity of the bank by further strengthening its in-house technical expertise and project screening capacity for closing the gap between the national and the European Union environmental and tendering requirements.
In addition, the grant will also improve the affordability of the environmental investments of the municipalities as it covers the project preparation cost and related technical studies of the investments.
