EBRD Backs €15 Million Urban Renewal Project in Alba Iulia, Romania

EBRD Backs €15 Million Urban Renewal Project in Alba Iulia, Romania

(IN BRIEF) The European Bank for Reconstruction and Development (EBRD) has approved a €15 million loan to Alba Iulia, Romania, to revitalize the city’s public transport infrastructure. The project, co-financed by the European Union, aims to transform over 15 km of city streets. Key improvements include dedicated bus and bike lanes, electric vehicle charging stations, advanced traffic management systems, and modern public lighting. This upgrade aims to reduce traffic congestion, enhance urban mobility, and decrease greenhouse gas emissions. Around 50,000 residents will benefit from improved air quality and safer travel. Alba Iulia’s participation also marks its entry into the EBRD’s Green Cities program, assisting cities in addressing urban development challenges and environmental concerns. The EBRD has invested over €10.5 billion in 515 projects in Romania, largely in the private sector, furthering the nation’s development.

(PRESS RELEASE) LONDON, 16-Jul-2023 — /EuropaWire/ — The European Bank for Reconstruction and Development (EBRD), a multilateral developmental investment bank, announces that it is taking a decisive step towards enhancing the quality of life for Alba Iulia’s residents by approving a €15 million loan for the rejuvenation of the city’s public transport infrastructure. This visionary project, set to be co-financed by the European Union, marks a significant stride in urban development and sustainability.

The core of this financial injection will be dedicated to an ambitious redesign and revitalization of over 15 km of city streets, heralding a new era of urban living. This transformation will introduce a range of pivotal enhancements that will redefine the urban landscape. Notable features include dedicated bus and bike lanes to promote sustainable mobility, electric vehicle charging stations to accelerate the transition to cleaner transportation, state-of-the-art intelligent traffic management and safety systems to ensure secure travel, and innovative public lighting solutions for safer and more vibrant city nights.

This comprehensive overhaul of Alba Iulia’s roadscape promises to alleviate traffic congestion, optimizing the urban transport network’s efficiency. Beyond mere convenience, this optimization aligns with a resounding environmental benefit: a tangible reduction in greenhouse gas emissions and other pollutants. This significant investment underscores Alba Iulia’s resolute commitment to global sustainability efforts.

Approximately 50,000 residents, encompassing cyclists, pedestrians, and public transport users, will reap the rewards of this endeavor. The profound impact on air quality and the provision of safer, more accessible, and comfortable journeys will enhance daily life for Alba Iulia’s citizens.

By embracing this transformative initiative, Alba Iulia joins the illustrious ranks of the EBRD’s Green Cities program. This accolade makes it the fifth Romanian city to partake in this flagship program, an invaluable platform aiding cities in identifying and resolving urban development challenges. As the natural progression, the EBRD will provide pivotal assistance to Alba Iulia in crafting its Green Cities Action Plan. This strategic blueprint will empower the city to expand its investments and green policies, directly addressing its most pressing environmental concerns.

Mayor of Alba Iulia Gabriel Plesa said: “We are honoured to see this partnership with a financial institution such as the EBRD and the openness it has shown to the needs of our community. It demonstrates the strength, performance and eminently positive image enjoyed by the municipality of Alba Iulia at a European level, as well as our desire to grow rapidly, even if local resources are limited, as they are in most Romanian municipalities. However, this has not stopped us from wanting more, from looking further and finding in the EBRD the most suitable partner from a support perspective – and not just in terms of the financial assistance that Alba Iulia needs right now – to put its plan into practice.’’

EBRD’s Green Cities initiative, launched in 2016, has burgeoned into a formidable urban sustainability program, boasting a financial commitment of €5 billion. In the face of burgeoning environmental challenges posed by urbanization, this program has already rallied the participation of over 60 cities within the economies where EBRD invests.

As of now, the EBRD’s investments in Romania stand at an impressive tally of €10.5 billion, spanning across 515 projects with a predominant focus on the private sector. This steadfast dedication is instrumental in propelling Romania’s development trajectory, establishing a solid foundation for a brighter, greener future.

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