December 12 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said on Thursday it is providing a Romanian lei equivalent of 25 million euro ($27.8 million) loan to ApaVital Iasi, a water operator in Iasi county.
ApaVital Iasi will use the proceeds of the loan to co-finance, alongside EU funds extended under the Large Infrastructure Operational Programme, its 309.14 million euro regional investment programme in wastewater infrastructure and services, the EBRD said in a press release.
More than 510,000 Romanian citizens living in the Iasi county and neighbouring towns will benefit from improved water and wastewater infrastructure.
The loan will also enable a water efficiency programme to reduce water losses by more than 11.5 million cu m per year, leading to a reduction in CO2 emissions of 1,370 tonnes per year.
The financing for ApaVital is part of the EBRD Sustainable Water Infrastructure Facility (SWIFT) framework.
To date, the EBRD has financed 24 water operators in Romania, providing a total of half a billion euro in loans and mobilizing well over 2 billion euro of EU funding for the country’s water and wastewater facilities.
($= 0.8983 euro)