BNDES will provide 135mn reais for Sanepar and 44mn reais for Cesan, the bank said in a release.
In Paraná, the funds will be used to expand water supply service in five municipalities and expand sewerage service in eight municipalities.
BNDES is financing 94% of the work, which will cost 143mn reais in total. The projects fall under phase II of the country's growth acceleration plan (PAC).
In Espírito Santo, Cesan will work to expand the wastewater treatment system in Serra city's Manguinhos neighborhood, according to the release.
Work includes building 45km of collector pipeline, 4,500 domestic connections, 12 pumping stations and expanding the region's wastewater treatment plant. The work will benefit 114,000 people in 16 neighborhoods.