SWIFT Constanta water project



Project number:


Business sector:

Municipal and environmental infrastructure

Notice type:


Environmental category:


Approval date:

18 Jul 2018



PSD disclosed:

17 Apr 2018

Translated version of this PSD: Romanian

Project Description

Provision of a loan of up to EUR 25 million to SC RAJA SA, Constanta's regional water operator.

The proceeds of the loan will be used to: 1) co-finance alongside EU Cohesion Funds an extension and modernisation of the company's water and wastewater infrastructure and services and 2) finance a loss reduction programme with private sector participation.

The EU investment grants are being made available under the EU Large Infrastructure Operational Programme.

Project Objectives

The project aims is twofold: i) enable RAJA and the County of Constanta to bring their water and wastewater services in line with EU environmental standards by cofinancing the extension and rehabilitation of the company's water and wastewater network alongside the EU, and ii) assist RAJA in reducing its non-revenue water by involving the private sector under a performance-based contract.

Transition Impact

The transition impact of the proposed project will be achieved through:

  • The development of a long term asset management approach and the involvement of the private sector in reducing the company's non-revenue water.
  • The support of environmental improvements and continued regionalisation of water and wastewater services in the counties of Constanta, Ialomita, Calarasi, Brasov and Dambovita.

Client Information


An EBRD client since 1997, RAJA is the largest regional operating company in Romania. It provides water and wastewater services in the counties of Constanta, Ialomita, Calarasi, Dambovita and Brasov.

EBRD Finance Summary

EUR 25,000,000.00

Total Project Cost

EUR 275,000,000.00

Environmental and Social Summary

The project is categorised B in accordance with the 2014 Environmental and Social Policy.

Environmental and social due will be carried out with the assistance of consultants hired with technical cooperation funds. It will include an audit of the current operations and an appraisal of the proposed investment plan. A non-technical summary, stakeholder engagement plan and environmental and social action plan will be developed and agreed with RAJA.

Technical Cooperation

The EBRD will mobilise funds from donors to support the following technical cooperation:

The Project will benefit from pre-signing assignments included under the SWIFT framework: technical and procurement review, environmental and social gap analysis, operational and financial due diligence of RAJA, legal and institutional due diligence on regionalisation. They have been financed by the Bank's Infrastructure Project Preparation Facility.

In addition, the project will benefit from the following two post-signing assignments under the framework:

  • Review of the long term asset management plan and preparation of a Performance-based contract for the reduction of non-revenue water.
  • Training and skills development programme including: training sessions with the regional operating companies and the relevant local authorities; and exchange of experience and knowledge sharing with water sector peers from other EU countries.

The estimated amount for these assignments is EUR 0.7million and is proposed to be financed from the EU Structural Instruments, and from the Bank's Shareholders' Special Fund.

Company Contact Information

Stelian Budes
+40 754 073 217

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

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Text of the PIP

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