The EBRD financing will bring improved water services to over 100,000 residents in Covasna county, in the central part of the country.

The EBRD loan is extended to SC Gospodarie Comunala water utility company, and is part of the EBRD’s Regional EU Cohesion Fund Co-financing Framework.

The loan will be used to co-finance the company’s €86.5m EU Cohesion Fund investment program for upgrading its regional water and wastewater facilities.

The EBRD loan is supported by over €763,500 in grant financing for technical assistance provided by the Spanish Trust funds and the Bank’s Shareholder Special Fund.

The project will enable the company to modernize its water and wastewater network in Sfantu Gheorghe, Targu Secuiesc, Covasna and Intorsura Buzaului.

The investment will help Gospodarie Comunala improve the quality of its water supply, wastewater collection and treatment services in line with relevant EU directives.