EBRD provides loan to support EUR 118 mln water and wastewater upgrade in Romania's Timis county

Aquatim, the water utility company in Timis county, Western Romania will receive a EUR 15.5 million loan from the European Bank for Reconstruction and Development (EBRD), which will be used to co-finance the company’s EUR 118.9 million EU Cohesion Fund regional investment program for upgrading water and wastewater services. The EBRD loan will help the company extend and revamp water supply and wastewater treatment network seven towns and two communes across Timis county. This is EBRD's third loan to Aquatim, after a first loan guaranteed by the government. The current loan came without any guarantee at all, relying entirely on Aquatim’s credit standing, according to the EBRD. "Under the current economic conditions, when four out of five companies fail to obtain a loan, it is a great achievement for Aquatim to be granted such a significant loan, without any guarantee except the economic performance of the company. Signing this loan contract with the EBRD will secure the co-financing of the largest European-funded investments project in Timis county," said Ilie Vlaicu, General Director of Aquatim. The Spanish government and the EBRD's Shareholder Special Fund will provide over EUR 768,700 in grant financing for technical assistance. Previously the EBRD supported similar investments in Bistrita-Nasaud, Braila, Brasov, Buzau, Constanta, Dambovita, Iasi and Sibiu counties. Regional EU Cohesion Fund Co-financing Framework (R2CF) is a EUR 200 million EBRD framework launched in 2010 to support investments in Romania’s water and wastewater infrastructure. So far, Romania received EUR 875 million for water and wasteware infrastructure. EBRD's loans for various economy sectors in Romania stay at EUR 5.5 billion to date. editor@romania-insider.com