Some 300,000 inhabitants of Romania’s Craiova will benefit from a €15 million long-term loan from the EBRD which will finance 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 CO2 savings, improving the environment and the quality of life in the city, announced EBRD

Craiova is one of the largest cities in Romania. 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 program, which builds on the Bank’s two decades of experience investing in municipal and environmental infrastructure.

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

Mihail Genoiu, Mayor of Craiova, added: “We would like Craiova and this new undertaking with EBRD to be a model of good practice for other cities in Romania.”

Under this program, 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.

Since the EBRD started operations in Romania, the Bank has invested over €8 billion in more than 400 projects in the country.