April 2 (SeeNews) - The European Bank for Reconstruction and Development said on Tuesday that it is considering providing a loan to the water utility company servicing Bulgaria's Ruse city, in order to partially finance infrastructure upgrade projects worth 58.8 million euro ($65.9 million).
The loan which the EBRD is considering to provide to the water utility amounts to 9.3 million euro, of which 6.2 million euro will be funded with EBRD's ordinary capital resources and 3.1 million euro will be European Structural and Investment Funds (ESIF) contributions, the bank said in a project summary description.
The EBRD manages the ESIF financial resources under an operational agreement with the Fund Manager of Financial Instruments in Bulgaria signed in October 2018.
The Ruse water utility company is the sole provider of water supply and sanitation services for roughly 250,000 inhabitants from 8 municipalities in northeastern Bulgaria. The company is 51% state-owned and 49% municipal-owned.
($ = 0.8923 euro)