The European Bank for Reconstruction and Development (EBRD) has agreed to provide €6m in funding for the completion of a critical water infrastructure project in the Croatian town of Poreč.

The loan has been provided to Odvodnja d.o.o. Poreč, a municipal company that offers wastewater collection and treatment services, servicing the town and surrounding municipalities.

The project includes extension and reconstruction of the sewerage network and the construction of four new wastewater treatment plants.

The new facilities will have a capacity to treat 3.2 million m³ of wastewater annually.

EBRD Director, Croatia Head Victoria Zinchuk said: “The EBRD is committed to continuing its support for investments in Croatia despite the ongoing coronavirus pandemic.

“Odvodnja Poreč and the city of Poreč are our long-term clients, and we are very happy to provide this additional financing required to finalise much-needed investments in the local wastewater network.”

EBRD earlier €4m for the project

The present financing complements an earlier funding of €4m from EBRD, which was provided in parallel with EU Structural Funds in the country.

Odvodnja Poreč director Milan Laković said: “Odvodnja Poreč is undertaking one of the most important water management ventures in the region with numerous challenges and under unforeseen circumstances. Our EU Poreč project is entering its final phase of construction of the wastewater network infrastructure.

“The majority of works are scheduled to be completed during 2020, and EBRD funding will secure their unobstructed and successful completion, to the satisfaction of not only the project’s stakeholders, but more importantly, to the residents of Poreč, for whose benefit this project was envisaged.”

Last December, EBRD advanced €75m to UniCredit Leasing Croatia to support local businesses in leasing green equipment and technologies.

The loan was expected to help in improving access to finance and also introduce Green Economy Transition (GET) technology selector to the local market.