October 4 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said on Monday it is granting a loan of up to 38 million lei ($8.9 million/ 7.7 million euro) to the Romanian city of Medias to part-fund a bigger EU project to improve local infrastructure.
The loan proceeds will finance the rehabilitation, modernisation and the improvement of energy efficiency in public buildings, and will support e-mobility projects, the EBRD said in a press release.
Located in the central historical region of Transylvania, Medias is the second largest city in Sibiu county, with a population of approximately 56,400. According to the bank, the city suffers from legacy infrastructure issues across its transport network, public buildings and road systems. The city plans to address these issues through a broad programme of investments, focused on accelerating its sustainable development and transition to a low-carbon future.
The EBRD loan will represent the city’s co-financing of a larger investment for a total value of 138.4 million lei, approved under the relevant EU Regional Operational Programme in Romania.
The loan is part of EBRD's 3 billion euro urban sustainability programme, EBRD Green Cities.
Medias is the third green city in Romania, after Craiova and Iasi, while Timisoara and Constanta are expected to join the programme soon.
(1 euro=4.9469 lei)