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EBRD lends Romania's Craiova 15 mln euro for green infrastructure projects

EBRD lends Romania's Craiova 15 mln euro for green infrastructure projects Romania, Bacau

BUCHAREST (Romania), December 5 (SeeNews) - The Romanian city of Craiova will finance green infrastructure projects using the proceeds of a 15 million euro ($17 million) loan from the European Bank for Reconstruction and Development (EBRD), the lender said on Wednesday.

Under this programme, the EBRD will help Craiova develop a Green City Action plan which will look at ways to invest in greener transport, water and waste management, so as to improve the urban environment and people’s lives, the EBRD said in a press release.

Some 300,000 inhabitants of Craiova will benefit from key urban projects in the city.

The bank will finance the rehabilitation of 14 public buildings and the acquisition of up to 40 buses that are fully compliant with the EU’s Euro-6 emissions standards.

As a result, Craiova will achieve considerable energy and carbon dioxide savings, improving the environment and the quality of life in the city.

"Craiova is the first Romanian city to join our Green Cities programme and I am looking forward to working together on a Green City Action Plan. Its implementation will benefit all living in Craiova," EBRD Director for Environmental and Municipal Infrastructure, Susan Goeransson, said.

Craiova, in southern Romania, is one of the country's largest cities. The EBRD has previously financed improvements in the city’s water and wastewater system and has helped develop a sustainable urban mobility plan.

This new financing is part of the EBRD’s Green Cities programme, which builds on the bank’s two decades of experience investing in municipal and environmental infrastructure.

($= 0.8821 euro)