Romania: Government wants additional IBRD financing to reduce nutrient pollution, Investors
Romania’s Government approved on August 26 a Memorandum to start negotiations for a EUR 48 million financing from the International Bank for Reconstruction and Development (IBRD). The money will be used for further projects to reduce nutrient pollution.
“The Ministry of Environment, Waters and Forests (MMAP) is currently developing the project on Integrated Nutrient Pollution Control, financed with a loan of EUR 50 million from IBRD and a USD 5.5 million non-reimbursable financial assistance from the Global Environment Fund,” reads a statement of the Government, cited by local Mediafax. The project under implementation covers the areas declared vulnerable to nitrate pollution in 2006.
The new project has a total cost of some EUR 50 million and is to be implemented over a period of 5 years, between 2016 and 2020. Following negotiations, the two parties will decide how the financing will be granted. It can be a new loan, or they can decide to increase the existing one.
The new project will have four components, according to the Government statement: investments at the commune level (interested communities can access funds on competitive criteria and eligibility), strengthening the institutional and regulatory capacity, public awareness, training and technical assistance, and project management.