Friday, November 8, 2024

EBRD finances modern water infrastructure in Romania’s Olt County

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CITEȘTE ÎN ROMÂNĂ


  • EBRD lends €14.5 million to Compania de Apa Olt SA in Romania

  • Loan to finance rehabilitation and modernisation of water and wastewater infrastructure in Olt County

  • Project, co-financed with the European Union, aims to improve local access to water 


The European Bank for Reconstruction and Development (EBRD) is supporting improved access to water and wastewater services in Romania’s Olt County by extending a €14.5 million loan to Compania de Apa Olt SA, the county’s water and wastewater services provider. 


The loan will be provided alongside a co-investment from the European Union (EU) under its Infrastructure Operational Programme for Romania.


The financing for Compania de Apa Olt is the eighth loan extended under the EBRD’s Sustainable Water Infrastructure Facility to support Transition (SWIFT), which builds on the Bank’s long-term work to improve services and help bring the sector in line with EU laws, policies and practices.


To date, the EBRD has financed 25 water operators in Romania, providing a total of close to €450 million in loans and mobilizing over €5 billion of EU funding for the country’s water and wastewater facilities.


The EBRD’s investment will enable Compania de Apa Olt to extend its service coverage for drinking water supply and wastewater collection and treatment, in line with EU standards, bringing necessary services to smaller municipalities and localities in the county.


As a result, some 395,000 residents, including those in rural, underserved areas will benefit from increased access to water and wastewater treatment services. 


Compania de Apa Olt is also set to benefit from these investments, as improvements in the county’s water and wastewater infrastructure will significantly reduce water losses and increase connection rates to water and wastewater networks.


Compania de Apa Olt is a joint-stock company that became a regional operator in 2007. It supplies water and wastewater services to 395,000 inhabitants in 13 localities. The company is majority owned by the City of Slatina, while the remaining shares are owned by Olt County and several other local authorities in its service area.


The EBRD is a leading institutional investor in Romania. To date, the Bank has invested more than €10.7 billion in 520 projects across the country.

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