EBRD invests RON 55.5 million in water infrastructure in Galati countyPublish date: 24-05-2012
The EBRD is supporting further modernisation of water and wastewater infrastructure in Romania with a RON 55.5 million (approximately €12.8 million) loan to SC APA Canal SA Galati, the water utility company of Galati county in the south-eastern part of the country, which will benefit about 400,000 residents.
The loan will co-fund an EU-approved investment programme of RON 551.7 million (approximately €127 million) designed to improve the quality of existing water services in Galati in line with the relevant EU directives.
The EBRD financing will be used to modernise water supply and wastewater infrastructure in five towns of the Galati county - Galati city, Tecuci, Targu Bujor, Pechea and Liesti. SC APA Canal SA Galati will use the proceeds of the loan to finance investments in water treatment, supply and distribution networks as well as wastewater collection and treatment in the project areas. The project will enable the company to significantly reduce water losses in and improve the quality of water and wastewater services provided by SC APA Canal SA Galati.
"With this important investment, the EBRD is continuing to play a key role in providing finance for the modernisation of Romania's water sector. This new investment signed today will help bring the operations of SC APA Canal SA Galati in line with EU environmental standards and ensure quality water supply and sanitation services to its customers,” said Jean-Patrick Marquet, EBRD Director for Municipal and Environmental Infrastructure.
A €200 million Regional EU Cohesion Fund Co-financing Framework was launched in 2010 to support important investments in Romania's water and wastewater infrastructure, helping local water utilities to bring their services up to EU environmental standards. To date the framework has mobilised more than €1 billion of EU funding in Romania's water and wastewater facilities.
Since the beginning of its operations in Romania, the EBRD has invested over €5.7 billion in the country's economy.
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