European Bank provides €9.2m loan for modernisation of water services in Romania
The European Bank for Reconstruction and Development (EBRD) has will offer a €9.2m loan to Romania-based water and wastewater operator Hidroprahova.
The funds will be employed to finance the company's €146.2m investment program that seeks to raise the quality of drinking water in line with EU directives.
Funding will also be used to increase access to water and sewerage services in the company's water and wastewater networks in eight agglomerations in Prahova county.
EBRD Municipal and Environmental Infrastructure director Jean-Patrick Marquet said that the new investment will support the modernization of water services in the country.
"The implementation of this project represents an important step in ensuring provision of quality water and wastewater services in this part of Romania, while the implementation of the Bank's environmental and social policies supports the development of SC Hidroprahova as the regional water operator," added Marquet.
The investment will also reduce Hidroprahova's water losses and lowers the operating costs of the company.
In addition to the loan, the company also receives EU Cohesion Funds of €116.5m and funding from the local and state governments.
Hidroprahova also plans to introduce between 3,000 and 5,000 solar panels with a total installed capacity of 0.8-1MW in its wastewater treatment plants.