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RTPR Advises EBRD on EUR 10 Million Loan to Romanian Water Operator

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Lawyers from RTPR Allen & Overy have counseled the EBRD on its EUR 10 million loan to SC Raja SA Constanta, one of the largest water utilities in Romania. SC Raja SA Constanta — an existing EBRD client that previously received a EUR 33 million loan in 2010  operates in the counties of Constanta and Ialomita with a growing presence in Calarasi, Dambovita, and Ilfov.

Today the company serves over 730,000 residents.

According to the EBRD, the loan is being provided alongside EU Cohesion Funds of EUR 47.5 million, and is designed to increase access to clean water and improve sewerage services in the region. As a result, over 10,000 people will receive access to a safe water supply through extended water networks and nearly 20,000 people will be connected to sewerage networks in 17 towns and villages across the counties of Constanta, Ialomita and Ilfov. The project will also support investments in wastewater networks and will ensure that quality water supply services are available in smaller localities in Ilfov county, which is also serviced by SC Raja SA Constanta.

Felix Stroe, General Manager of SC Raja SA Constanta, said: “The long-standing collaboration between SC Raja SA and the EBRD has developed over time into a trustworthy partnership. The two institutions have worked together in guaranteeing the successful implementation of ambitious national infrastructure programs. Through various projects developed by the EBRD, SC Raja SA efficiently manages infrastructure assets for the entire lifecycle – water catchment, distribution and treatment – to ensure the optimum provision of water services for the well-being of the population and of the environment.”

The EBRD reports that the loan, "is the 23rd investment under the Romania EU Cohesion Fund Water Co-Financing Framework (R2CF), launched in 2010. The facility was originally approved in November 2010, with a volume of EUR 200 million, and further increased by EUR 130 million in September 2012 following strong local demand. To date, the EBRD has mobilised approximately EUR 2 billion of EU funding in Romania’s water and wastewater facilities."

The EBRD reports having invested approximately EUR 6.7 billion over 364 projects in Romania, making it the largest investor in the country.

Senior Counsel Enrico Canzio led the EBRD’s legal team on the matter, with on-the-ground assistance from RTPR Allen & Overy Partner Victor Padurari and Counsel Cosmin Tilea.

 

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