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EBRD May Lend $14 Million to Romanian Utility for Water Upgrades

Feb. 27 (Bloomberg) -- The European Bank for Reconstruction and Development may lend as much as 10.8 million euros ($14 million) to Vital SA, a Romanian regional utility, to improve the water network of the northern county of Maramures.

The London-based bank’s loan will co-fund a 148.2 million-euro regional investment program by the European Union and Romania, the EBRD said today in a statement on its website. The bank’s board will meet to discuss the loan May 29, it said.

“Investments are expected to significantly reduce water losses, optimize operating costs and expand water supply and wastewater collection and treatment services in Maramures County in line with the relevant EU directives,” the bank said.

To contact the reporter on this story: Irina Savu in Bucharest at isavu@bloomberg.net.

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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