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Dec 08, 2023 13:51 EEST
December 8 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said that it has extended a 14.5 million euro ($15.6 million) loan to Romanian water and waste management company Compania de Apa Olt SA to finance the rehabilitation of the county’s water and wastewater infrastructure.
The loan is being co-financed by the European Union under its Infrastructure Operational Programme for Romania, the EBRD said in a press release on November 29.
The EBRD’s investment will help to improve the quality of life for over 395,000 residents in the southern Olt county by extending access to clean drinking water and wastewater treatment services, said the lender.
This financing is the eighth loan extended under the EBRD’s Sustainable Water Infrastructure Facility to Support Transition (SWIFT), which is a dedicated fund that supports water and wastewater infrastructure projects in transition economies across the EBRD’s regions.
Compania de Apa Olt serves 395,000 people across 13 localities and is majority owned by the city of Slatina.
To date, the EBRD has invested over 10.7 billion euro in 520 projects across Romania.
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