Austria’s OeEB lends 13 mn euros for Namami Gange's STP in Bengal

Austrian development bank Oesterreichische Entwicklungsbank AG (OeEB) has borrowed 13 million euros for a Namami Gange sewage treatment (STP) project in West Bengal.

Oesterreichische Entwicklungsbank AG (OeEB) has presented the full amount as a loan, making it the first European DFI loan for National Mission for Clean Ganga (NMCG's) Hybrid Annuity Model (HAM) projects.

The water company implementing the project, Vishvaraj Environment Pvt Ltd (VEPL), told media that it has received the loan for Namami Gange sewage treatment plant for Maheshtala in South 24 Parganas district in HAM and public-private partnership (PPP) model.

The project costs are financed by a mix of NMCG Grant, Equity and Debt, with the total project debt of more than EUR 13 million being financed by OeEB, and Deloitte is the financial advisor for this loan transaction.

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