The EBRD is considering extending a financing to the City of Brasov to complement an existing loan signed in 2005. The operation will enable the City to continue a comprehensive street rehabilitation programme, along key public transport corridors in the City centre, financed by the original loan.
Transition impact will be delivered through continued assistance provided by the Bank to the City of Brasov in restructuring of the public transport network and reduction of transport congestion.
The project is designed to support transition achieved through the earlier transaction. It will assist the client to modernise further the urban transport sector, which plays a fundamental role in enabling the basic functioning of any urban economy.
The City of Brasov (the City), Romania.
Up to EUR 7.5 million loan to the City.
The total cost of the project has been estimated at EUR 9.0 million.
The original project was screened B/1 requiring an Environmental Analysis and audit. The proposed project will also contribute to improving public transport reliability, safety and efficiency, will reduce congestion, and help maintain the market share of public transport, with associated air quality benefits. Environmental investigations, which are currently underway, will identify any further potential environmental impacts associated with the extension and update of the environmental and social action plan (ESAP), to ensure compliance with both national and European Union environmental, health and safety requirements.
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