400,000 Romanian citizens living in Dolj and Gorj counties will benefit from a new EBRD investment in the improvement of water and wastewater services and the reduction of water losses.
The Bank is providing a Romanian lei equivalent of €25 million loan to the regional operator of water and wastewater utility Compania de Apa Oltenia.
The loan agreement was signed in London today by Susan Goeransson and the Director General of the water operator Adriana Cimpeanu, in the presence of Mayor of Craiova Mihail Genoiu and Chairman of the Dolj County Council Ion Prioteasa.
The EBRD contribution is co-financing, together with EU Cohesion Funds, the water operator’s €374.62 million regional investment programme.
The Bank’s loan will fund an extension and rehabilitation of the company’s water and wastewater services and will benefit a total of 400,000 people. More than 100,000 people will be connected to the wastewater network for the first time. The financing will also enable a water efficiency programme which aims to reduce water losses by more than 3.2 million m3 per year.
In addition to EU Cohesion Funds, the EU is providing technical assistance worth €50,000 to help the water operator ensure continued efficiency, sustainability and good management of assets.
The financing for Compania de Apa Oltenia is part of the EBRD Sustainable Water Infrastructure Facility (SWIFT) framework which builds on the Bank's long-term work with Romanian water companies aimed at bringing the sector in line with EU laws, policies and practices.
To date, the EBRD has financed 24 water operators in Romania, providing a total of €330 million in loans and mobilising over €2 billion of EU funding for the country’s water and wastewater facilities.
The EBRD is a leading institutional investor in Romania and to date has invested over €8.3 billion in the country, primarily in the private sector.