European bank provides loan to fund Ukraine water infrastructure

The European Bank for Reconstruction and Development (ERDB) has agreed to provide a loan of up to €10m towards improving water quality, water supply and wastewater facilities in the Greater Yalta region of Ukraine.

Yalta Water and Wastewater Management Utility said it will utilise funds to modernise municipal water treatment facilities and water distribution networks.

The utility will also construct clean water reservoirs, replace old pumps and upgrade the wastewater network.

EBRD director for municipal and environmental infrastructure Jean-Patrick Marquet said, "The timing of the project is crucial as the Crimean municipal water infrastructure has been suffering from under-investment for decades, and was posing a clear threat to the unique environment of the peninsula and the Black Sea basin."

The Swedish International Development Cooperation Agency will co-finance the project, contributing a grant of nearly €5m towards the completion of the project.

The EBRD is the largest financial investor in the Ukraine. To date, the bank has committed over €7.4 billion to 293 different projects.

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Image: EBRD will improve water infrastructure in the Yalta region. Photo: Maksim