"Rīgas ūdens", a water supply and wastewater management company based in Riga, has entered into an agreement with the Nordic Investment Bank (NIB) allowing for a loan of up to 50 million euros. This agreement is part of the company's strategy to secure diversified financing as it embarks on a significant investment program totaling 235 million euros aimed at developing both wastewater treatment and drinking water infrastructure in the city. The loan will assist in enhancing the safety and quality of services provided by the company as part of its investment program for 2025-2028.

The goals of this extensive investment program include the construction and replacement of drinking water and wastewater pipelines, modernization of wastewater treatment facilities, and an increase in capacity. Additionally, the program aims to digitalize the water management systems, improving tracking, management, and long-term planning within the company. By enhancing these systems, "Rīgas ūdens" intends to significantly reduce the amount of water loss and improve overall service delivery throughout Riga.

Overall, this financial agreement signals a proactive step by "Rīgas ūdens" towards maintaining and enhancing its infrastructure, which is crucial for ensuring sustainable and reliable water services. It reflects an increasing trend among utility companies to modernize their operations and adopt new technologies while attuning their services to environmental standards and community needs. The investment not only aims to improve service efficiency but also responds to the growing demands placed on urban water management systems.