“The focus on water is intensifying. An estimated $1T[iii] in new investment is needed just to rehabilitate the current U.S. water infrastructure over the next two decades,” said Shawn McGowen, Leumi’s Head of Commercial Banking in the U.S. “With many water-focused companies looking to expand internationally, now is the right time for us to enter this sector. We have the unique advantage of a strong partnership with our parent company and can readily leverage its experience and resources. Simply put, Leumi can provide water-focused companies with full-service banking wherever they do business.”
Much like the technology sector, in which Leumi is also active, the water industry can present unique challenges for banks. Many water innovations come from startups or require long lead-times (e.g., the building of a desalinization plant), so banks may not be equipped to address these needs. Leumi has risen to the challenge by developing a unique set of products and services specifically for water-focused companies, including lending, equipment financing, foreign exchange services and cash management products (LINK).