EBRD, EU provide extra funding for water utility company in five counties

The European Bank for Reconstruction and Development (EBRD) and the European Union (EU) via the Cohesion Fund will grant some EUR 57.5 million in funding to SC Raja SA Constanta, one of the largest water utilities in Romania. The EBRD will provide some EUR 10 million, and the EU, the rest. The company, which operates in the counties of Constanta and Ialomita with a growing presence in Calarasi, Dambovita and Ilfov, already received some EUR 33 million loan in 2010 to finance investments in the county of Constanta. The investment will increase access to clean water and improve sewerage services in the region. As a result, over 10,000 people will receive access to a safe water supply through extended water networks and nearly 20,000 people will be connected to sewerage networks in 17 towns and villages across the counties of Constanta, Ialomita and Ilfov, according to the EBRD. “SC Raja SA Constanta has made strong progress in consolidating as a regional operator. It has considerably extended its service area, first to the county of Ialomita and more recently running operations in smaller, less-developed localities in Calarasi, Dambovita and Ilfov counties neighbouring Constanta. We are pleased to provide further financing to ensure that more people can benefit from the water and wastewater services supplied by the company, ensuring important environmental benefits,” said Jean-Patrick Marquet, EBRD Director for Municipal and Environmental Infrastructure. This EBRD loan is the 23rd investment under the Romania EU Cohesion Fund Water Co-Financing Framework (R2CF), launched in 2010. The facility was originally approved in November 2010, with a volume of EUR 200 million, and further increased by EUR 130 million in September 2012 following strong local demand. The EBRD has provided some EUR 2 billion of EU funding for Romania’s water and wastewater facilities. editor@romania-insider.com