The program is aimed to modernize and upgrade the water and wastewater services in Botosani county and will be implemented by water service provider SV Nova Apaserv.
The company also receives EUR80.9 million of EU Cohesion Funds and additional funding from the local and state budget.
“The investment will assist the company in extending and rehabilitating the water and wastewater infrastructure, and is expected to significantly reduce water losses, optimize operating costs and expand water supply and wastewater collection and treatment services in the county of Botosani in line with relevant EU directives,” EBRD said in its statement.
The loan is being provided under the Bank’s Romania EU Cohesion Funds Water Co-Financing Framework, launched in 2010.
“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 Botosani and surrounding water supply zones and agglomerations,” Jean-Patrick Marquet, EBRD Director for Municipal and Environmental Infrastructure, said.
Compania de Apa Botosani is the 20th company in Romania which received a loan under the co-financing program.
Up until now, the EBRD has invested nearly EUR272 million under the Framework and has mobilized more than EUR1.86 billion of EU funding in Romania’s water and wastewater facilities.
Since the start of operations in Romania, the EBRD has invested approximately EUR6.4 billion in over 343 local projects and mobilized over EUR14 billion from other financing sources.