EBRD and EU Cohesion Funds to support water project in Croatia

The European Bank for Reconstruction and Development (EBRD) and the EU Cohesion Funds will be offering €53m to fund a water project in Porec, Croatia under their new joint co-financing framework.

The Croatian town has been the first beneficiary to be selected under the framework, termed as Croatian EU Cohesion Fund Water Co-Financing Framework C2CF.

The framework has been formed to further infrastructure improvements in the water and wastewater sector in the country.

The proposed project will include extension and reconstruction of the wastewater network in the town along with development of four new wastewater treatment plants.

It will be carried out by Odvodnja Porec, a municipal company providing wastewater collection and treatment services in the city and its surrounding municipalities.

While EBRD will be supporting the project with a €4m loan, the EU Cohesion Funds has committed a €49m investment.

EBRD Croatia director said: "We are very pleased to sign the first project under the new framework today. It combines efforts by the local authorities, the company, the national authorities, the EU and the EBRD to increase the overall absorption of EU grants.

"The implementation of the project will improve the environmental standards in local communities."

Besides improving the wastewater services for the local residents, the project will also look to comply with the EU regulations.

Porec Mayor Edi Štifanic said: "With this project our city is starting one of the largest environmental investment programmes in our history to secure the sustainable future development of our municipality and region."

---

Image: C2CF is a first municipal framework for co-financing of EU cohesion funds in the water and wastewater sector in Croatia. Photo: courtesy of European Bank for Reconstruction and Development.