The City of Porec will be the first beneficiary of a new joint programme of the European Bank for Reconstruction and Development (EBRD) and the European Union Cohesion Funds to co-finance infrastructure investments, the EBRD stated on Tuesday.
The EBRD will provide a EUR 4 million loan to the Odvodnja municipal utility company to draw up a comprehensive investment plan for the extension and reconstruction of the local waste water infrastructure and the construction of four new waste water treatment plants in that coastal city.
EBRD Director for Croatia Vedrana Jelusic Kasic said during the agreement-signing ceremony in Zagreb on Tuesday that this was a result of concerted efforts by local authorities, end-users, state authorities, the EU and the EBRD to help improve the overall absorption of non-repayable EU funds.
She said this would also help enhance environmental protection standards in local communities.
Porec Mayor Edi Stifanic said that his city was making significant investments into environmental protection thus providing for the sustainable development of the region.