EBRD lends additional EUR 15 mln to Timişoara for urban infrastructure investments
The European Bank for Reconstruction and Development (EBRD) said it is providing an additional EUR 15 million in financing to Timişoara, a major city in western Romania, for investments in urban infrastructure.
The EBRD provided a EUR 20.3 million loan to the Romanian city in December 2021, alongside a EUR 53.6 million grant from the EU, to finance the modernisation of the city’s tram fleet and the rehabilitation of its tram lines.
The financial institution said the additional funds will help Timişoara implement the initial investment in tram lines and allow it to acquire a new fleet of 44 electric buses.
“In Timişoara, we are making long-term investments in urban mobility by renewing both our infrastructure and the entire transport fleet. This agreement […] will ensure a sustainable cash flow for three major mobility projects in the city,” said Dominic Fritz, the city’s mayor.
To date, the EBRD has invested more than EUR 10.7 billion in 520 projects in Romania. Timişoara is one of six cities in the country to have joined the EBRD Green Cities programme since 2021, along with Alba Iulia, Bucharest, Craiova, Iaşi, and Mediaş.
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