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Sep 15, 2023 12:39 EEST
September 15 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said that it is lending 4.6 million euro ($4.9 million) to the Moldovan city of Balti to help with the expansion of its trolleybus fleet and modernisation of street lighting infrastructure.
The project is worth 7 million euro and will also benefit from a 2.4 million euro grant provided by the Eastern Europe Energy Efficiency and Environment Partnership (E5P) Fund, to which the European Union (EU) is the largest contributor, EBRD said in a press release on Thursday.
The investment will comprise the acquisition of 22 electrical trolleybuses and modernisation of the street lighting systems of six priority streets in Balti, which is Moldova's second largest city after the capital Chisinau.
"The new buses will improve the city’s public transport; they can operate with battery support in areas of the city that do not have overhead wires, expanding the service area. Renewing the trolleybus fleet also addresses a key priority for Balti, enabling it to move towards a greener, more comfortable and more reliable bus service. Improving the street lighting system will reduce the city’s energy consumption and carbon footprint, and enhance road security and safety at night," the bank said.
EBRD has so far invested more than 2 billion euro in 168 projects in Moldova.
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