Ljubljana share indices decline, Cinkarna Celje paces losers
Sofia bource indices rally on gains in Fibank, Telematic Interactive
Podravka buoys Croatia’s share indices
Foreign visitor overnights in Kosovo rise 28% y/y in Oct
Bosnia's Serb Republic GDP grows 2.1% y/y in Q3
Dec 18, 2017 12:00 EEST
December 18 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) is providing a 114 million lei ($29 million/25 million euro) loan to the Romanian city of Brasov for the acquisition of 105 new buses.
The diesel buses will meet EURO-6 emission criteria and their use will generate significant CO2 and toxic emissions savings, the EBRD said in a press release on Friday. As low-floor carriages the buses will offer users modern comfort and accessibility for the 250,000 inhabitants of the central city of Brasov.
"This project aims to encourage local development in the city of Brasov and the surrounding area," EBRD director and regional head of Romania and Bulgaria Matteo Patrone said. "Better infrastructure not only will benefit the local economy but will also give a boost to this famous tourist hub."
The buses will be acquired by Brasov Urban Transport Company (RATBV), the recipient of the EBRD loan. As part of the funding package the bank plans to mobilise grants to support the company’s commercialisation and strengthen the regulatory and institutional set-up.
The loan to RATBV is the fifth project under the EBRD’s Romania Framework for Sustainable Mobility and Access to Road Transport programme, which finances improvements in public transport infrastructure and services in the country. It is in line with Brasov’s Sustainable Urban Mobility Plan, which focuses on the modernisation of its public transport system.
The EBRD is a leading institutional investor in Romania. To date it has invested over 7.6 billion euro in over 400 projects in the country.
($= 0.8476 euro)
You have run out of free articles this month.
Sign up in for
and get ten (10) free articles per month or sign up for
and get unlimited access.
Browse our free newsletter options