EBRD grants EUR 14.5 million loan to Olt Water Company
The European Bank for Reconstruction and Development (EBRD) is supporting the improvement of access to water and wastewater services in Olt County by providing EUR 14.5 million to Olt Water Company SA, the county's water and wastewater service provider.
According to a bank press release, the loan is granted together with co-investments from the European Union (EU) under the EU Operational Programme for Infrastructure for Romania.
The loan to Olt Water Company is the eighth loan under the EBRD's SWIFT financing facility, which contributes to the bank's long-term strategy to improve services and help the water sector comply with EU laws, policies and practices.
To date, the EBRD has financed 25 water operators in Romania, providing loans of up to EUR 450 million and mobilising investments of over EUR 5 billion in Romania's water and sanitation infrastructure.
The EBRD is a leading institutional investor in Romania. So far, the bank has invested more than 10.7 billion euros in 520 projects in the country.