€4.5 million investment by EBRD for wastewater project in Zadar, Croatia
- November 18, 2020
- Posted by: Lyn Wilson
- Category: Corporate, Investment and Finance, Water Treatment, Europe
The European Bank for Reconstruction and Development (EBRD) is offering a €4.5 million loan for the completion of a key infrastructure project in Zadar. The Bank’s financing will complement EU Cohesion Funds of €42 million extended to Odvodnja d.o.o. Zadar, a municipal company providing wastewater services to around 80,000 people in the city and its surrounding areas.
Branko Dukic, Mayor of Zadar, said:
“We appreciate the cooperation with the EBRD and the financing extended to Odvodnja. This loan, along with the EU grant and assistance from the Croatian government and Croatian Waters (Hrvatske vode) will secure funds for investment in the Zadar project.”
Zadar is the fifth-largest city in Croatia and a popular tourist destination on the Adriatic coast and was attracting more than 1.4 million tourist arrivals annually before the coronavirus pandemic. The investment will improve the quality of life for the local inhabitants and ensure the sustainable development of Zadar and its neighboring municipalities.
Grgo Peronja, Director of Odvodnja Zadar said:
“The development of our wastewater treatment and purification facilities is a vital part of our mission to preserve our sea from land- based pollution. This project will allow the citizens of this beautiful city and its visitors to continue to enjoy our clean sea in the times to come.”
EBRD €4.5 million loan will enable the rehabilitation and extension of Zadar wastewater network and includes the construction and restoration of a wastewater pipeline and collector network of over 100 kilometers, 17 pump stations and a household connectivity increase from 75 to 95 per cent.
EBRD Director for Croatia, Victoria Zinchuk said:
“We are pleased to support this investment, which will result in more sustainable and efficient wastewater management through enhanced network connectivity in the Zadar region. It underlines the EBRD’s commitment to support Croatian municipalities in the difficult period of the coronavirus pandemic.”
The EBRD signed its first project in Croatia in 1994 and it has invested over €3.9 billion in 219 projects to date. The Bank’s activities include all areas of the economy with a special focus on the infrastructure, corporate, financial institutions and energy sectors.