November 22 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said on Tuesday that it is considering the provision of a 14.4 million euro ($14.8 million) loan to Aquatim, a water operator in Timis county, in Romania.
The proceeds of the loan will be used to co-finance, alongside EU Cohesion Funds, the extension and modernisation of the company's water and wastewater infrastructure and services, the EBRD said in a said in a project summary document.
The total cost of the project is 293.4 million euro.
The approval date for the loan is November 29, according to the document.
The financing will enable Aquatim to achieve compliance with the relevant EU standards in the project area, and to enhance its long term asset management plan and integrate climate change considerations.
The project is part of the bank's Sustainable Water Infrastructure Facility (SWIFT) in Romania.
Aquatim is a joint stock company owned by Timisoara municipality with 99.12%, and by Timis county and other municipalities in the region.
($=0.9729 euro)