- EBRD loan of €25 million- local currency equivalent to improve water and wastewater services in Romania
- Upgrades to benefit a population of more than 510,000 people
- Loan is provided alongside EU cohesion grants
More than 510,000 Romanian citizens living in the Iasi county and neighbouring towns will benefit from improved water and wastewater infrastructure. The EBRD is providing a €25 million loan in local currency equivalent to the regional operator of water and wastewater utility ApaVital Iasi. An EBRD client since 1995, ApaVital has consistently worked to improve water and wastewater services in the region through new investment and operational changes.
The EBRD’s new loan for the company is co-financing – together with European Union funds extended under the Large Infrastructure Operational Programme – the water operator’s €309.14 million regional investment programme.
The Bank’s financing will help improve the water supply and wastewater treatment services and extend the coverage area. A total of 75,000 people will be added to the water supply network and almost 100,000 residents will be connected to a wastewater collection system for the first time. The loan will also enable a water efficiency programme to reduce water losses by more than 11.5 million m3 per year, leading to a reduction in CO2 emissions of 1,370 tonnes per year.
The funds for ApaVital are extended under the EBRD Sustainable Water Infrastructure Facility (SWIFT), which builds on the Bank's long-term work with Romanian water companies aimed at bringing the sector in line with EU laws, policies and practices.
The EBRD has been financing the Romanian water sector since 1995, providing 24 water operators with a total of half a billion euro in loans and mobilising well over €2 billion of EU funding for the country’s water and wastewater facilities.
The EBRD is a leading institutional investor in Romania and to date has invested over €8.3 billion in the country, primarily in the private sector.