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2023-08-22 00:00:00
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EBRD Invests in Road Upgrades for Alba Iulia
The European Bank for Reconstruction and Development (EBRD) has pledged €15 million to enhance Alba Iulia's public transport system in Romania. This initiative, co-funded by the European Union, is aimed at uplifting the living standards of the city’s inhabitants.
This loan from the Bank is set to revamp over 15 km of city roads. The modernization will encompass the establishment of specific lanes for buses and bicycles, facilities for charging electric vehicles, advanced traffic and safety management systems, and new street lights.
By streamlining the road system, the city hopes to alleviate traffic bottlenecks and optimize its transport framework. This will not only curtail greenhouse gas emissions and other pollutants but will also promote a cleaner environment. Around 50,000 citizens, ranging from pedestrians, cyclists, to public transit commuters, are expected to enjoy safer, more efficient, and more pleasant travels.
This endeavor marks Alba Iulia's entry into the EBRD’s Green Cities initiative, making it the fifth city in Romania to participate. This program aids cities in pinpointing and tackling their infrastructural challenges. As a follow-up, the EBRD will guide Alba Iulia in creating its Green Cities Action Plan. This will propel more green-focused investments and policies to combat the city's environmental challenges.
Alba Iulia's Mayor, Gabriel Plesa, expressed gratitude towards the EBRD, highlighting the strategic alliance with the bank. He emphasized the municipality's ambition to expand even with constrained local resources, as is the case in many Romanian cities. The EBRD's partnership offers more than just funds; it provides the necessary support for Alba Iulia to realize its vision.
The EBRD Green Cities initiative, initiated in 2016, targets urban environmental challenges. It now boasts a funding pool of €5 billion and includes over 60 cities from the regions where the EBRD operates.
So far, the EBRD’s investments in Romania have exceeded €10.5 billion across 515 projects, with a primary focus on the private sector.
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