EU bank offers $49m to clean up water treatment and chemical sector

The financing will support research and development into optimising water treatment and developing new products

By Jonny Bairstow

The European Investment Bank (EIB) has signed a $49.3 million (£35m) loan with Finnish chemicals company Kemira Oyj.

The financing will support research and development into optimising water treatmentand developing new products and technologies for the pulp and paper industry, the municipal and industrial waste-water treatment sectors and mining businesses.

Vice-President of the EIB, Alexander Stubb, said: “Everyone knows that natural resources are limited and that we have to make optimal use of them.

“The research, development and innovation programme proposed by Kemira will enable industries that use a lot of water to implement more circular economy-focused models, thus mitigating climate change.”