EBRD lends EUR 13.4 million to modernize water services in Targoviste

Newsroom 30/09/2011 | 14:31

The EBRD is lending EUR 13.4 million for the modernization to the Compania de Apa Targoviste-Dambovita to upgrade and expand its water services in Dambovita county. The loan is part of the Bank’s EUR 200 million Regional EU Cohesion Fund Water Co-Financing Framework (R2CF) and is the first financing under this framework extended in RON.

The EBRD funds will be used to finance much-needed upgrades to the water infrastructure in Dambovita county, including the rehabilitation and extension of six existing wastewater treatment plants, the construction and modernisation of 120 kilometres of sewerage network and 80 kilometres of water supply system.

The EBRD investment is complemented by technical cooperation support provided by the Spanish government and the Bank’s Shareholder Special Fund.

The Regional EU Cohesion Fund Water Co-financing Framework was launched in 2010 to support critical investments in Romania’s water and wastewater infrastructure, helping local utilities to bring their services up to EU environmental standards. Under the framework, the EBRD provides financing to water utilities alongside EU cohesion funds. It is estimated that the framework will mobilise additional investments of close to EUR billion in Romania’s water and wastewater infrastructure.

Since the beginning of its operations in Romania, the EBRD has committed over EUR 5 billion to various sectors of the country’s economy.