106.2m euros from the World Bank

World Bank’s Executive Board has approved a 106.2 million-euro loan in Washington, which will be granted to Romania as funding for a municipal services project, the international financial institution announced. Among other things, the project is aimed at sustaining the development of the water and wastewater infrastructure in Bucharest and Arad, as well as preparing a series of projects in 11 counties, which are to be funded by the EU, reads a World Bank release. The institution mentions the fact that Romania could join the EU in 2007, and that the costs of upgrading water services and providing water treatment services at European standards are estimated at some 9.5 billion euros by the end of 2008. The necessary investments mainly regard the expansion of the coverage of running water services, building water treatment stations, as well expanding the sewage network. In addition to these investments, Romania will also have to make operating expenditures and investment in the rehabilitation of the current infrastructure.