October 5 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said that it is considering to grant a loan of up to 20.3 million euro ($23.6 million) to the Romanian western city of Timisoara to support the its priority public transport infrastructure alongside EU grants.
The loan proceeds will fund the renewal of the city's tram fleet, the rehabilitation of the tram network, the update of the city's sustainable urban mobility plan, the improvement of public transport services and the preparation of a Green City Action Plan, the EBRD said in a project summary document on Monday.
The approval date for the loan was set for December 8, according to the document. The total cost of the project is 86.7 million euro.
The main purpose of the project is to improve the e-mobility in the city and its metropolitan area and reduce pollution caused by traffic congestion, focusing on the modernisation of its public transport system.
The project is part of EBRD's Green Cities Framework 2, which has as primary goal is to achieve significant environmental improvements and promote the green transition quality in the targeted cities.
($=0.8613 euro)