Water supplier Severn Trent has secured a £530 million loan from the European Investment Bank (EIB) that it will use to invest in new projects and modernise existing infrastructure.
Severn Trent, which is regulated by watchdog Ofwat, will make capital investments totalling £3.3 billion until 2020, as set out in the regulator's latest pricing review.
These investments include Severn Trent's £255m project to modernise and enlarge its water supply network in Birmingham, the EIB said in a statement.
The EIB has previously made loans to Severn Trent but this was one of the largest ever loans it has agreed with a British water company, it said.
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