Intensa Sanpaolo Bank extends EUR 15 mln green loan to Lugoj municipality

Intesa Sanpaolo Bank, the Romanian subsidiary of the Intesa Sanpaolo Group, the most important banking group in Italy, signed with the municipality of Lugoj a green loan contract in the amount of RON 72.1 million (EUR 15 million) for a period of 12 years, according to a press release quoted by Bursa.ro.

This will support large-scale European projects, contributing to sustainable development and strengthening local infrastructure, according to the source.

The funds granted through this contract will be used to co-finance the expenses associated with several European projects in education and local public administration under the National Recovery and Resilience Plan (PNRR).

These projects fall under Component C5 - "The Renovation Wave" and the Regional Operational Program, Priority Axis 9 - "Supporting the economic and social regeneration of disadvantaged communities in the urban environment," according to the release.

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