Russian water supply company Rosvodokanal said Friday it had received 1.11 billion rubles in loans from the European Bank for Reconstruction and Development (EBRD).

The company plans to spend the funds to upgrade water supply systems in the Russian cities of Kaluga and Tver, as well as to refinance short-term loans.

The funds were provided as part of the first, 1.5 billion ruble tranche of a loan worth a total of 5 billion rubles. The company expects to receive the entire loan from the EBRD by October, it said.

The funds were provided for 13 years.

Rosvodokanal, which is part of Russia’s Alfa Group, operates water supply systems and provides water supply services in several Russian regions.

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