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EBRD increases loan to improve roads in key Romanian city
New €7.3 million credit helps Brasov city complete street modernisation programme
The EBRD is investing a further €7.3 million to support the completion of a street rehabilitation programme in the city of Brasov, a key commercial centre in central Romania.
The new loan is part of the EBRD's response to the global economic crisis, providing finance for an important infrastructure development project in the absence of alternative commercial funding.
The credit is an extension of an original €15 million syndicated EBRD loan from 2005 to finance street rehabilitation and an improvement in Brasov's public transport.
The earlier loan had been complemented by a further €15 million credit from the EBRD to the city's urban transport company.
The city is an important economic centre whose commercial significance will be further enhanced by a better functioning transport infrastructure.
The street rehabilitation programme covers a total 23 streets in Brasov. The original EBRD loan financed work on 13 of them, while the modernisation of a further 5 were financed from the city's own funds.
The new loan will finance the completion of the programme.
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