The European Investment Bank (EIB), European Bank for Reconstruction and Development (EBRD), and the European Union, through the Neighbourhood Investment Facility, are joining forces to support the modernisation of water and waste water infrastructure in Moldova’s capital, Chisinau.
The EBRD and the EIB will each provide loans of EUR 24 million to the city’s water and wastewater utility S.A. Apa Canal Chisinau, while the EU will contribute a EUR 11 million grant.
EIB President Werner Hoyer said:
“Clean water is essential for life. Investment in the Chisinau city water system will significantly improve the quality of drinking water, reduce leaks and enhance waste water treatment. This new joint engagement by the EIB and EBRD reflects our complementary strengths, combining experience of upgrading water networks across Europe and supporting implementation in Moldova..
“We further welcome European Union support for the scheme, both through a detailed evaluation of investment needs and grant support to be provided for the investment programme from Neighbourhood Investment Facility. The Chisinau water project is truly a flagship demonstrating Europe’s long-term partnership with Moldova.”
The funds will be used to finance the extension, rehabilitation and modernisation of the water and wastewater infrastructure. The upgrade programme will improve the efficiency of the city’s water network, save energy and contribute towards future compliance with relevant EU directives.
The existing water network in Chisinau, a city of 800,000 inhabitants, is no longer adequate to meet the city’s demands. Due to a lack of investment key parts of the network are in urgent need of refurbishment. Investment planned under the new upgrade programme will reduce water loss, improve water quality and reduce health risks.
Since 2007, the EIB and the EBRD have jointly financed 9 projects worth a total of €674 million on an equal basis. The EBRD is the largest institutional investor in Moldova and to date has signed over 100 investments in the country, covering the energy, transport, agribusiness, general industry and banking sectors, and totalling almost EUR 900 million.
Moldova is an important partner for the EIB in the Eastern Neighbourhood region, with the highest EIB lending volume per capita. Since the start of EIB lending in Moldova in 2007 more than EUR 450 million has been provided in long-term loans including support for improved roads and public transport, water, energy and agriculture.
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