19 October 2012: The European Bank for Reconstruction and Development (EBRD) is providing financing to support a water utility in Romania. This investment will help the county bring in line the quality of its water supply, wastewater collection and treatment services with EU directives.

With a loan of up to €13.85 million, co-financed through the Regional EU Cohesion Fund Co-financing Framework (R2CF), EBRD is supporting Valcea, a regional water utility operating in Valcea County, in modernizing water and wastewater services. According to EBRD, the loan will allow the company to considerably reduce water losses and operating costs.

The EBRD loan is supported by a grant of €750,000 for technical cooperation from the EBRD Shareholder Special Fund. It is also supported through technical cooperation funds from Spain, the Central European Initiative and EBRD’s own funds. R2CF is a €330 million EBRD framework to provide additional financing to Romanian regional water companies by investing in water and wastewater infrastructure. [EBRD Press Release]