Feb. 19 (Bloomberg) — The European Bank for Reconstruction
and Development is lending 9.2 million euros ($12 million) to
Romanian utility Hidroprahova SA to upgrade the water and sewage
system in Prahova county in the center of the country.
The loan will add to European Union grants funding a 146
million-euro program to improve the quality of drinking water
and sewerage services, the EBRD said today in a statement.
Hidroprahova will expand and upgrade networks in eight towns.
Districts across Romania including Buzau, Braila and
Maramures are investing in water improvements to bring systems
into line with EU norms as aging pipes struggle to cope with
higher demand. The work is aimed at cutting water loss, curbing
operating costs and expanding supply and waste treatment.
The EBRD also said it may lend as much as 13.6 million
euros to utility Cia de Apa Oltenia SA for similar works in Dolj
county, southern Romania. The loan would help finance a 150.3
million-euro regional investment program funded by the EU and
Romania, the bank said in a statement yesterday. The EBRD board
will meet to discuss the loan on May 1.
Romania joined the EU in 2007 along with Bulgaria.
To contact the reporter on this story:
Andra Timu in Bucharest at
atimu@bloomberg.net
To contact the editor responsible for this story:
James M. Gomez at
jagomez@bloomberg.net
