Sibiu applies for EBRD loan to modernize streets

The city of Sibiu has applied for a EUR 11.5 million loan from the European Bank for Reconstruction and Development (EBRD) to upgrade and refurbish streets mainly along public transport routes in the city and the construction of a new bridge. The proposed project has an estimated total cost of EUR 14.07 million, and is intended to be financed by the loan from the EBRD and the city of Sibiu. The investment program will be implemented over three years. The EBRD is considering a second EUR 15.5 million tranche, to be committed within the next two years. Since the beginning of its operations in Romania the EBRD has committed over EUR 4.8 billion in various sectors of the country’s economy, which attracted additional investment of EUR 9 billion. editor@romania-insider.com