EC welcomes deal on 230M euro for better water service and infrastructure in Bulgaria

Written by on October 5, 2018 in Bulgaria - Comments Off on EC welcomes deal on 230M euro for better water service and infrastructure in Bulgaria

The European Commission said on October 5 that welcomes the signature the previous day of an agreement between the Fund Manager of Financial Instruments in Bulgaria (FMFIB) and the European Bank for Reconstruction and Development (EBRD), setting the first Cohesion Policy backed financial instrument for the water and wastewater sector in Bulgaria.

With 115 million euro from the Cohesion Fund and national co-financing, together with additional resources from the EBRD and private sources, this agreement is expected to trigger up to 230 million euro of investment, to provide 16 regional water operators with access to finance for the delivery of quality service to citizens, the Commission said.

With the funding, operators will be able to run and upgrade their water supply, waste water and water treatment facilities, the statement said.

European Commissioner for Regional Policy Corina Creţu said: “This agreement shows that financial instruments have the power to multiply the benefits of Cohesion Policy investments, also in public services.

“Thanks to this agreement, 220 000 Bulgarian citizens will have access to better water supply and 1.5 million to improved waste water treatment,” Creţu said.

In the 2014-2020 period, more than a billion euro from the Cohesion Fund will be invested in better water supply and water treatment in Bulgaria, the European Commission said.

(Photo: Josh Klute/freeimages.com)

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