Monday, December 12, 2011

Romania Galati SME Energy Efficiency

The EBRD is considering providing a local currency loan of up to RON 55.5 million (EUR 13.2 million equivalent) to SC Apa Canal SA Galati for water and wastewater infrastructure improvements. The financing is a sub-project of the EUR 200 million Framework for Romania EU Cohesion Fund Co-Financing for regionalised water companies (the “Framework”). The project summary document for the Framework was published on 23 September 2010. The proposed project, which is part of a EUR 129.8 million regional investment programme co-financed by significant grant funding from the European Union, the Government of Romania and the local governments under Romania’s Cohesion Fund Programme, will enable the Company to extend and rehabilitate its network in the County of Galati as well as to improve water and wastewater services in five main localities in the County, namely: Galati city, Tecuci, Targu Bujor, Pechea and Liesti.

Investments are expected to significantly reduce water losses, optimise operating costs and expand water supply and wastewater collection and treatment services in Galati County in line with relevant EU directives. The EUR 13.2 million equivalent loan project is a sub-project of the EUR 200 million R2CF Framework (Project ID 41666) approved by the Bank to co-finance projects in Romania’s water and wastewater sector alongside EU Cohesion Funds.

European Bank for Reconstruction and Development. Country:Romania.Project number:42928.Business sector:Municipal and environmental infrastructure.Public/Private:Public date: 29 may 2012. Status: Passed concept review, Pending final review.PSD disclosed: 9 Dec 2011