EIB and Ireland Partner on €300M Water Investment to Boost Resilience and Growth

In a landmark show of cooperation, the European Investment Bank (EIB) welcomed Irish Taoiseach Micheál Martin to its Luxembourg headquarters, solidifying a major step forward in the long-standing partnership between Ireland and the EIB Group. The highlight of the visit was the signing of the largest-ever EIB financing for water infrastructure in Ireland — a €300 million loan to support critical investment by Uisce Éireann, the country’s national water utility.

The financing is part of the EIB’s broader Water Resilience Programme, a flagship initiative aimed at bolstering climate adaptation, protecting ecosystems, and improving access to clean, safe water across the European Union.

Strategic Investment in National Priorities

The new EIB financing aligns directly with Ireland’s recently announced National Development Plan, which earmarks €12 billion for water infrastructure as part of a larger push to meet national strategic goals in climate resilience, environmental protection, and economic sustainability.

“The European Investment Bank is a key partner for transformational investment across Ireland,” said Taoiseach Martin. “This new water investment will help Uisce Éireann upgrade our vital water infrastructure, ensuring a sustainable future for our communities.”

Martin also emphasized that the EIB’s involvement is crucial not just for water services but also for Ireland’s ambitions in housing, energy, transport, and healthcare.

A Climate-Driven Partnership for a Sustainable Future

Echoing Ireland’s vision, EIB President Nadia Calviño reaffirmed the bank’s commitment to supporting climate-conscious infrastructure and inclusive growth.

“As the EU Climate Bank, we prioritize investments in water services that improve daily lives. This €300 million loan supports Ireland’s green transition and enhances climate resilience,” Calviño stated.

Over the past several years, the EIB Group has contributed around €1 billion annually to Ireland’s public and private investment sectors. These funds have supported a broad range of development goals, from education and innovation to renewable energy and digital infrastructure.

Transforming Ireland’s Water and Wastewater Systems

The newly signed agreement with Uisce Éireann and the National Treasury Management Agency represents a transformative step in Ireland’s water sector. The multi-annual capital investment programme is designed to tackle several interrelated objectives:

1. Enhancing Water Resilience and Supply Security

• Upgrades and expansions to water supply infrastructure will improve resilience against droughts and ensure secure water access for both households and businesses.

• Modernization efforts will reduce water loss, improve pressure, and strengthen service reliability nationwide.

2. Protecting the Environment and Water Quality

• Investments in wastewater treatment facilities and sewer networks will boost the quality of ground and surface water.

• These upgrades are crucial to maintaining marine ecosystem health and ensuring compliance with EU water standards.

3. Addressing Climate Change Adaptation and Mitigation

• Future-proofing infrastructure against more intense and frequent storms, including stormwater drainage systems.

• Measures to reduce infiltration and leakage will lower energy consumption and decrease greenhouse gas emissions, supporting Ireland’s climate targets under the Paris Agreement.

“Large-scale investment in Ireland’s water network is crucial to ensure delivery of safe, clean, and environmentally compliant water to households and businesses,” said Chris McCarthy, Chief Financial Officer of Uisce Éireann. “This funding will significantly accelerate the development of Ireland’s water services infrastructure, supporting public health and economic growth.”

Strengthening Long-Term Collaboration

Beyond water, Taoiseach Martin and President Calviño discussed the EIB Group’s ongoing support for strategic sectors across Ireland. The European Investment Fund (EIF), part of the EIB Group, plays a pivotal role in stimulating innovation and venture capital for Irish startups and SMEs.

The meeting also celebrated the transition of leadership at the EIB’s Dublin office. Martin extended his thanks to outgoing representative Kevin McKeon for his service and welcomed Diarmaid Kehoe as his successor, noting the importance of maintaining strong institutional ties between Ireland and the EIB.

EIB's Expanding Role in Ireland’s Future

The EIB has established itself as a critical development partner for Ireland, not only as a lender but as a strategic enabler of long-term, sustainable growth. Its support for water infrastructure is part of a larger trend of mobilizing public and private capital to meet the EU’s climate and cohesion goals.

In the coming years, the partnership between Ireland and the EIB is expected to deepen further, with continued emphasis on green energy, digital transformation, social housing, and climate adaptation.

As Taoiseach Martin emphasized during the visit, “Our strong partnership with the EIB is crucial to delivering on our broader societal objectives and ensuring that Ireland’s development remains inclusive, resilient, and future-proof.”