EBRD to finance €13.85m water and wastewater modernization in Romania
The European Bank for Reconstruction and Development (EBRD) has financed €13.85m towards improving water and wastewater services in Romania.
Financing will consist of an EBRD loan of €8.55m coupled with an envisaged loan of up to €5.30m for green energy investments.
The loan has been extended to regional water utility SC APAVIL SA Ramnicu Valcea and will co-finance a regional investment program approved by the EU under Romania's Cohesion Fund program.
The utility will carry out modernization of water and wastewater services in the areas of Ramnicu Valcea, Dragasani, Calimanesti, Olanesti, Babeni, and Balcesti to cut water loses and costs.
The EBRD loan will be supported by a grant of €750,000 for technical cooperation from the EBRD Shareholder Special Fund, along with other technical cooperation funded by the government of Spain, the Central European Initiative and the EBRD's own funds.