Riga's water utility taps Nordic bank for €50M infrastructure loan
What's the deal? Rīgas ŪdensDealroom has a profile for this one. Try Dealroom →, Riga's municipal water utility, has secured a credit line of up to €50 million from the Nordic Investment BankDealroom has a profile for this one. Try Dealroom →. The company finalised the agreement in February 2026 following a competitive procurement, and has already drawn the first €10 million.
Why now? The debt funds part of the utility's 2025–2028 investment program, which carries a total cost of €235 million. Money goes towards building and replacing drinking water and sewage pipelines, upgrading treatment facilities, and increasing system capacity.
What's the endgame? Beyond physical upgrades, the utility plans to digitalise its water supply and sewage networks. The goal is better infrastructure management and lower water losses.
By the numbers: Turnover reached €80.321 million last year, up 5.2% from 2024. The utility posted a profit of €590,500, recovering from a loss the prior year.
The context: Rīgas Ūdens is wholly owned by the Riga City Council. It serves Riga plus parts of the Adaži, Ropaži, Mārupes, and Ķekava municipalities, and draws on a mix of international financial organisations and capital market instruments to fund upgrades.
The signal: Municipal utilities across Europe are turning to development banks like the Nordic Investment Bank to bankroll ageing infrastructure. For Riga, the €50 million line is a down payment on a decade-defining overhaul rather than a one-off fix.
Read more: newsy-today.com
Image credit: The City of Toronto
