The European Bank for Reconstruction and Development (EBRD) said on Tuesday it provided a EUR 13.6 million loan to the local water utility in Dolj county to upgrade the water infrastructure.
The EBRD loan co-finances a regional investment program of EUR 150 million, approved by the EU, which includes grant funding from the EU.
Jean-Patrick Marquet, EBRD director for municipal and environmental infrastructure, said: “The EBRD is committed to improving urban infrastructure, particularly water services, in Romania and helping the country to absorb EU cohesion funds. This loan will enable the company to modernize water and wastewater infrastructure in eleven urban agglomerations of Dolj.”
Compania de Apa Oltenia, the Dolj-based utility, will use the loan to cut water losses, optimize costs and bring services in line with EU environmental directives. This is the 18th company in Romania to benefit from the modernization of water and wastewater services.
The EBRD has invested EUR 240 million to date under the Bank’s Romania EU Cohesion Funds Water Co-Financing Framework, which has mobilized more than EUR 1.5 billion in water related infrastructure.
Since the start of operations in Romania, the EBRD has invested around EUR 6.4 billion across over 330 projects in Romania, mobilizing over EUR 12 billion for these ventures from other financing sources.