Search
Search
- EBRD lends up to €29.9 million to Romanian city of Brasov
- Finance to upgrade energy efficiency in public buildings
- Project initiates Brasov’s participation in flagship EBRD Green Cities programme
The European Bank for Reconstruction and Development (EBRD) is lending up to €29.9 million to the Romanian city of Brasov to finance energy efficiency upgrades in public buildings, initiating the city’s participation in the Bank’s flagship EBRD Green Cities programme.
The Bank’s investment will fund the renovation of up to 20 public buildings, including educational and administrative facilities. The renovations will include measures such as thermal insulation and structural improvements, installation of heat pumps, and upgrades to building systems to improve their energy and resource efficiency.
These improvements will deliver significant energy and resource savings, reduce carbon emissions and pollution, and enhance comfort and safety, in line with Romania’s and the European Union’s climate goals. Buildings account for the largest share of energy consumption in the EU and more than a third of its emissions, making energy efficiency improvements critical for accelerating decarbonisation.
With this project, Brasov becomes the seventh Romanian city to join EBRD Green Cities, which helps cities identify and address their urban development challenges. As a next step, the Bank will help Brasov develop its Green City Action Plan, which will set out priorities for future green investments and policies to address the City’s most pressing climate and environmental concerns.
Brasov is a one of the largest cities of Romania, with a population of around 400,000 residents. It aspires to be recognised as Romania’s Green Capital and has committed to advancing sustainability practices such as eco-tourism, public transport upgrades, renewable energy usage and building rehabilitation.
The EBRD is a long-term investor in Romania since 1992 and has invested more than €12 billion in 576 projects to date.