EBRD lends EUR 15.5 mln to Aquatim water utility company

Newsroom 21/03/2012 | 15:53

EBRD has lent EUR 15.5 million to Aquatim S.A. water utility company. Over 400,000 residents of the Romanian Timis county will gain access to safe and improved water supply and sanitation services with this.

Extended under the EBRD’s Regional EU Cohesion Fund Co-financing Framework (R2CF), the loan will be used to co-finance the company’s EUR 118.9 million EU Cohesion Fund regional investment programme for upgrading water and wastewater services.

The EBRD loan will part-finance the extension and rehabilitation of the water supply and wastewater treatment network and the construction of new wastewater facilities in seven towns and two communes across Timis county in western Romania.

The investment will improve the quality of water supply and wastewater services and will allow Aquatim S.A. to reduce water leakages and optimise operating costs.

The EBRD loan is supported by over EUR 768,700 in grant financing for technical assistance provided by the Spanish government and the Bank’s Shareholder Special Fund.

Previously the EBRD supported similar investments in Bistrita-Nasaud, Braila, Brasov, Buzau, Constanta, Dambovita, Iasi and Sibiu counties.

R2CF is a EUR 200 million EBRD framework launched in 2010 to support investments in Romania’s water and wastewater infrastructure and help municipalities absorb the financing available from EU Cohesion Funds. To date the framework has mobilised investments of over EUR 875 million in Romania’s water and wastewater infrastructure.

Since the beginning of its operations in Romania, the EBRD has committed over EUR 5.5 billion to various sectors of the country’s economy.

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