IADB gives $720 mln loan to Argentine water company

BUENOS AIRES, Nov 5 (Reuters) - Argentina's state water company AySA said on Wednesday it would receive a $720 million loan from the Inter-American Development Bank to fund investments in drinking water and sewage projects.

The company, which the state took control of under former President Nestor Kirchner, said it would get $250 million in the first payment from the loan and planned to start investing the money next year.

"The loan was unanimously approved today by the bank's board of directors," the water company said in a statement. (Reporting by Lucas Bergman; Writing by Helen Popper; Editing by Jonathan Oatis)