Kinstellar has advised the EBRD on its first loan under the EUR 200 million Bulgarian Water Sector Financing Framework to Ruse Water Supply and Sanitation Company.
The framework was established with the bank’s own funds and contributions from the state-owned Fund Manager of Financial Instruments in Bulgaria from the EU’s European Structural and Investment Funds.
According to Kinstellar, “the EUR 8.7 million financing for Ruse Water Supply and Sanitation Company will improve water and wastewater infrastructure for 220,000 residents in the Ruse region in northeast Bulgaria. It will rehabilitate 63 km of water supply pipelines and 40 km of wastewater collection infrastructure and will help the water operator cut water losses, increase effectiveness and strengthen financial performance.”
Kinstellar’s team included Counsel Svilen Issaev, Managing Associate Mladen Minev, Senior Associate Kristina Lyubenova, and Associate Denitsa Kuzeva.