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.