Waterworks in six municipalities will apply for loan form the European Bank for Reconstruction and Development (EBRD) without government guarantees for modernization projects. They will be selected from among 10 municipal water utilities said minister of regional development and public works Vakentin Tserovski said. The loans worth a total of EUR 60M will be extended under a 15 year term of payment and a three year grace. The utilities will have the chance to apply for grants under the ISPA program, amounting to a total of EUR 180M, said Henry Russel, deputy director of the municipal infrastructure and environment department at EBRD. Tserovski, Russel and the Plovdiv and Bourgas utility CEOs signed mandate letters yesterday on the first loan of EUR 20M. EBRD will extend a grant of EUR 300 000 for consultants to conduct feasibility studies. Plovdiv and Bourgas waterworks will obtain also EUR 30M grant each under the ISPA program. The two CEOs stated yesterday that the water consumer tariffs will not rise as a result of these borrowings.