EBRD finances two public projects in Romania with EUR 11.6 mln

The European Bank for Reconstruction and Development (EBRD) has extended two loans worth a total of EUR 11.6 million to local authorities in Romania, to support investments in essential infrastructure. The EBRD granted a EUR 6.4 million loan to Apa Canal Ilfov, a state-owned regional company supplying water and wastewater services in Ilfov County, which surrounds the capital Bucharest. The loan will co-finance a EUR 68.5 million regional investment plan to expand and modernize its water and wastewater network in eight towns, which will benefit 60,000 people. Most of the funds will come from the European Union. The EBRD will also co-finance with EUR 5.2 million a project of the Iasi County Council aimed at lifting the county’s waste management system to EU standards, which should translate into better sanitation for 720,000 people. The total value of this project is EUR 55.9 million, some EUR 37.6 million of which will come from the EU and EUR 13.1 million from the Romanian authorities. “Improving access to water supply and sanitation is part of our strategy in Romania which envisages, among other aims, the development of infrastructure to unlock economic growth and improve quality of life in the country,” said Matteo Patrone, EBRD Director for Romania. The EBRD has invested over EUR 7 billion in Romania to date. EBRD could lend EUR 15 mln to Sibiu City Hall in Romania EBRD buys Bucharest City Hall bonds with EUR 75 mln Romanian firms up turnovers, productivity, staff with EBRD money Oil group gets EUR 10 mln from EBRD to finance operations in Romania EBRD improves its economic growth forecast for Romania editor@romania-insider.com