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Xylem Inc.
XYL, a leading global water technology company focused on
addressing the world's most challenging water issues, has today signed a $158
million (€120 million) financing agreement with the European Investment Bank
to fund innovative and aspirational research and development (R&D) projects
across Europe. The deal underscores the EIB's involvement in the water sector
and is part of the The Risk Sharing Finance Facility (RSFF) initiative run by
the EIB and the European Commission to promote R&D in the European Union.
Representatives of Xylem and the EIB convened today in Luxembourg to
commemorate the formal signing of the agreement.
The funds will be available from 2013 to 2014 as loans to finance the research
and development of solutions to a range of complex challenges facing the water
industry, including developing new innovative and sustainable products and
services for biological water treatment, desalination, filtration and
disinfection as well as improving the control of such processes. The research
projects will take place at Xylem's facilities in the U.K., Germany, Italy,
Austria, Sweden, Norway and Hungary.
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