14.6 C
Bucharest
February 25, 2021
BUSINESS

EUR 200 M EBRD co-financing to support water utilities modernisation

The EBRD is supporting the further modernisation and regionalisation of water utilities in Romania with a EUR 200 M co-financing framework that will allow municipalities to utilise grant funding from the European Union’s Cohesion Fund, a press re­lease informs. Through the new facility – Regional EU Cohesi­on Fund Co-financing Framework (R2CF) –  the Bank is creating a financing instrument that will support critical investments in Romania’s water and wastewater infrastructure, helping Roma­nian utilities to align their services to EU environmental standards. SC Raja SA Constanta, one of the largest water utilities in Romania, operating in the counties of Constanta and Ialomita, is the first beneficiary under the new framework. The company provides water and wastewater services to over 500,000 people in the south-eastern part the country.  Previously the EBRD provided financing to 18 water utilities in Romania, helping to mobilise close to EUR 500 M in pre-accession grant funding from the EU.

Related posts

French economy returns to recession

Nine O' Clock

Enel is launching a consistent investment plan to improve the network status in Muntenia Sud area

Test

NEWS IN BRIEF

Test