ZOV Sold Last Payment Of Zagreb’s Debt To The Bank

The city was granted an extension of the deadline in which it has to pay a total of 150 million kuna by 2008.

Zagreb’s waste water (ZOV) sold the last payment of 61,295.06 kuna of city debt to Zagrebacka bank and covered all of its requirements.

The city of Zagreb was granted an extension for paying the total debt which equals around 125 million kuna until 2008. It is very probable that the bank will add interest to that amount, and exactly how much the debt will be after a year, when the extension expires, we can only guess.

Lets take for example that the interest rate is only two percent, which is unlikely, except if the city has a special agreement, which is an extra three million kuna which the city will have to, when the time comes to pay, cover from the city budget.

For cleaning waste water the population has since 2004 been paying fees via their water bills. At the end of last year the price of cleaning waste water rose, and with that the price of water that we pay.

ZOV for the investment worth 235 million euros, which is how much the water cleanser cost, together with the building of the “Domovinski” bridge, is charged via Zagreb Holding, more precisely, its subsidiaries of “Vodoprivreda” which has a 30 percent share in the concession of ZOV which were founded by the German companies Wassertechnick and Aqua.

The city has committed itself to paying the difference which is not covered by water fees. The difference is rising to 20 percent of the total requirements of the concession which totals 30 million kuna per month.

This also means that if some companies or citizens do not pay their water bills, and there always are a number of them, tax payers will have to pay for them also.

So if you are a tax payer, and pay your bills regularly, you will pay double the price for cleaner water.

The only consolation is that in 2028 when the concession runs out and ZOV becomes the property of the city, and the money from cleaning fees paid by the population will spill into the budget.