- EBRD provides an additional loan of €6 million for key infrastructure project
- Wastewater and sludge treatment facilities for Poreč in western Croatia
- Investment in parallel with EU Structural Funds
The Croatian town of Poreč, one of the most popular tourist destinations on the Adriatic coast will be able to complete a critical water infrastructure project in the challenging environment of the global coronavirus pandemic thanks to a €6 million loan from the European Bank for Reconstruction and Development (EBRD).
The project includes the extension and reconstruction of the sewerage network and the construction of four new wastewater treatment plants. The new facilities will have a capacity to treat 3.2 million m3 of wastewater annually in line with the EU regulations.
The additional EBRD finance complements an earlier €4 million loan provided in parallel with EU Structural Funds. The recipient is Odvodnja d.o.o. Poreč, a municipal company providing wastewater collection and treatment services, servicing the town and surrounding municipalities.
Victoria Zinchuk, EBRD Director, Head of Croatia, said: “The EBRD is committed to continuing its support for investments in Croatia despite the ongoing coronavirus pandemic. Odvodnja Poreč and the city of Poreč are our long-term clients, and we are very happy to provide this additional financing required to finalise much-needed investments in the local wastewater network.”
Milan Laković, Director of Odvodnja Poreč said: “Odvodnja Poreč is undertaking one of the most important water management ventures in the region with numerous challenges and under unforeseen circumstances. Our EU Poreč project is entering its final phase of construction of the wastewater network infrastructure. The majority of works are scheduled to be completed during 2020, and EBRD funding will secure their unobstructed and successful completion, to the satisfaction of not only the project’s stakeholders, but more importantly, to the residents of Poreč, for whose benefit this project was envisaged.”
The EBRD signed its first project in Croatia in 1994 and has invested over €3.9 billion in 218 projects there to date. The Bank’s activities include all areas of the economy, with a special focus on the infrastructure, corporate, financial institutions and energy sectors.