During the 1920s, as Athens’ population increased, especially after the Asia Minor catastrophe, new needs emerged. The cities were unprepared as there were no sufficient buildings, water supplies, sewage networks, and electricity supply. It was therefore time to systematically introduce these services to urban households. Some emblematic moments during the 1923-1933 decade was the materialization of the water supply project of Athens, Piraeus, and environs, which was assigned in December of 1924 to Ulen & Company, as the relevant contract was signed by the Greek government, this American firm and the Bank of Athens. The contract anticipated the funding of the project through the issuing of a debenture bond of 10 million dollars. In the early 1930s, the water supply loan was the only state loan that was settled with very favorable terms, a decreasing interest rate from 8% to 4%, and an increased payback term from 25 to 50 years. For the repayment of the above loan, four loans totaling 145 million drachmas were paid from the Greek Postal Savings Bank to the Greek State, until 1935.