The European Bank for Reconstruction and Development (EBRD) announced that it granted a loan of up to 14.4 million euros to the Aquatim Water Company, the beneficiary of an investment project worth 239 million euros within the Large Infrastructure Operational Program, which aims to expand, rehabilitate and modernization of the water and wastewater infrastructure in Timis county, Agerpres reports.
According to a press release of the financial institution, the loan is granted for a period of 15 years and will co-finance the investment program of the Aquatim company, which is part of the SWIFT financing facility of the EBRD, in a total amount of 250 million euros, dedicated to the sector of water from Romania.
Aquatim has been an EBRD client since 1995, participating in three reform programs of the water and wastewater sector in Romania, the company having as its objective the achievement of compliance with the EU directives on the quality of drinking water, respectively the collection and treatment of wastewater.
The investment project co-financed by the EBRD will produce benefits for almost 500,000 inhabitants, significantly reducing water losses and increasing connection rates to water networks from 93.6% to 97.4% in 2026, respectively connection to water networks used water from 79.1% to 89.4% in 2026.
This project will also contribute to an improved planning of asset management and tariff methodology. Over the past 20 years, the EBRD has supported the Romanian water sector in the implementation of the largest investment programs, generating essential environmental benefits, while helping the sector to plan other necessary investments.
Also, at the request of the Romanian Government, the EBRD contributed to the development and implementation of reforms in the water sector. This support will continue through: technical assistance for ANRSC (National Regulatory Authority for Community Public Utilities Services) and technical assistance for regional water operators in the preparation of 5-year business plans, as a prerequisite for license approval. These additional regulatory requirements will help set tariffs in a transparent, fair and reasonable manner.
Agerpres
