Money to Improve Water and Wastewater Services in Olt County

The European Bank for Reconstruction and Development (EBRD) is supporting efforts to upgrade water and wastewater infrastructure in Olt County by providing €14.5 million to Olt Water Company SA. This investment, the eighth loan under the EBRD's SWIFT financing facility, comes in partnership with co-investments from the European Union (EU) under the EU Infrastructure Operational Programme for Romania.

The loan contributes to the EBRD's long-term strategy to improve services and align the water sector with EU standards in terms of laws, policies and practices.

Olt Water Company SA, which provides water and wastewater services to 395,000 inhabitants in 13 municipalities, will use the funds to expand its coverage of drinking water supply and wastewater collection and treatment services. This will benefit residents in smaller municipalities and towns, including those in underserved rural areas.

"The EBRD investment will enable Olt Water Company SA to expand its coverage of drinking water supply and wastewater collection and treatment services in line with EU standards, bringing much needed services to smaller municipalities and localities in the county. As a result, approximately 395,000 inhabitants, including those in underserved rural areas, will benefit from increased access to water and wastewater treatment services," the release said.

The EBRD has become a major institutional investor in Romania, investing so far more than €10.7 billion in 520 projects in the country.