Project number:


Business sector:

Municipal and environmental infrastructure

Notice type:


Environmental category:


Approval date:

08 May 2002



PSD disclosed:

15 Mar 2002

Project Description

Proposed €51.5 million loan to the General Council of the City of Bucharest to finance investments in a traffic management system, renovation of part of the old city centre, and district heating. The transaction will provide the first loan to the CGMB on commercial terms and without a guarantee from the Central Government.

Transition Impact

The transaction will (i) facilitate the CGMB’s access to finance from the commercial market; (ii) provide for outsourcing of key municipal services within the urban transport sector; (iii) include a credit enhancement programme for the CGMB; and (iv) introduce commercial practice in the provision of heat and hot water services.

The Client

General Council of the City of Bucharest (CGMB).

EBRD Finance

A €51.5 million unsecured senior loan to the CGMB to be repaid from the CGMB general revenues. Part of the loan might be syndicated under the Bank’s A/B-loan structure.

Project Cost

The total project cost is estimated at €51.5 million.

Environmental Impact

The project has been screened B/0 requiring an environmental analysis.

Technical Cooperation


Business opportunities

For business opportunities or procurement, contact the client company.

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Email: procurement@ebrd.com

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