19 October 2012: The European Bank for Reconstruction and Development (EBRD) is supporting water infrastructure upgrades in Romania. EBRD will help bring water and wastewater services in Valcea, Romania, in line with EU Directives, by funding the work of SC APAVIL SA Ramnicu Valcea, a regional water utility operating in Valcea.

The loan will co-finance a regional investment programme approved by the EU under Romania’s Cohesion Fund Programme co-financing Framework (R2CF), a €330 million EBRD framework to provide additional financing to Romanian regional water companies by investing in water and wastewater infrastructure.

EBRD financing will consist of an EBRD loan of €8.55 million coupled with an envisaged loan of up to €5.30 million for green energy investments. The loan is also supported by a grant of €750,000 for technical cooperation from the EBRD Shareholder Special Fund, together with other technical cooperation funded by the Government of Spain, the Central European Initiative and the EBRD’s own funds. [EBRD Press Release]