Timisoara becomes 53rd member of EBRD Green Cities urban sustainability programme European Union will provide €53.6 million grant for €87.2 million infrastructure programme The European Bank for Reconstruction and Development (EBRD) will lend €20.3 million (or RON 100 million) to the Romanian city of Timisoara to co-finance, alongside the European Union (EU), key infrastructure projects for the period 2020-2023, the Bank informs. These include the renewal of its tram fleet and the rehabilitation of its T5 tram line, as well as two consultancies to support the City’s public transport reforms. The project will serve as Timisoara’s “trigger” investment, making it the 53rd member of the flagship EBRD Green Cities urban sustainability programme. The €5 billion EBRD Green Cities programme was set up in 2016. Under the programme, cities develop a Green City Action Plan (GCAP) to identify, prioritise and develop tailor-made solutions to their environmental and urban challenges. The GCAP will build on Timisoara’s pre-existing key objective to improve its public transport infrastructure and services, which is a pre-requisite for business and economic development in the region. This is in line with the EU’s Regional Operational Programme for Romania, targeting green and mobility investments. The proceeds of the Bank’s loan will be used to co-finance developing Timisoara’s tram infrastructure, alongside a €53.6 million grant from the EU. The total cost of the development will be €87.2, including national and local contributions and technical cooperation funds. The EBRD loan covers the financing gap for Timisoara’s priority infrastructure programme and will help the city introduce long-term sustainable urban planning, with a focus on green, resilience and mobility. Electric transport systems will not only increase mobility in the region but also improve life and environmental standards by promoting energy efficiency, reducing CO2 emissions and improving public transport quality. The project will save an estimated 22.2 per cent of current emissions, or up to 683 tonnes of carbon dioxide equivalent, per year. Given Timisoara’s commitment to improving transport, the loan will also finance critical consultancies to update the City’s Sustainable Urban Mobility Plan and to support it in reorganising public transport. The EBRD is a long-term investor in Romania, where to date it has invested nearly €9.4 billion in 481 projects.
Romania’s green startup ecosystem is gaining more and more momentum, driven by a skilled workforce, reforms aligned with EU policies, and the climate emergency, according to a report prepared by Startarium and Impact Hub Bucharest. In 2024, there were over 2,300 startups in Romania, with a total estimated value of approximately EUR 19 billion. Romania […]
The global IT hub established by JTI in Romania has expanded from 140 employees at the beginning of the year to 170 currently, and is set to exceed 200 by the end of 2025. Located in Bucharest, the hub is one of JTI's six technology centers worldwide. The experts in Bucharest provide Digital and IT […]
French-born virtual reality esports center EVA VR has recently opened its Bucharest location, promising a realistic and immersive combat esports experience suitable for corporate team-building events, birthday parties, and various other events. Inaugurated on June 7, the new location is part of an international network, Esports Virtual Arenas, which was established roughly 5 years ago. […]
Investment group ROCA acquired a 20% minority stake in the Adrem energy group, following approval from the Romanian Competition Council. Announced on Tuesday, August 12, the transaction will support Adrem’s strategic development and scaling plans. The investments will be primarily directed towards the expansion and diversification of EPC (Engineering, Procurement, and Construction) projects, the development […]
Romanian students spend an average of 13 hours a week on homework, almost twice as much as their peers in Nordic countries, according to data from the OECD’s PISA 2022 study, quoted by ParentED. Finland ranks at the bottom in Europe with just six hours per week, while countries such as Switzerland, Denmark, and the […]
Three foreign citizens suspected of stealing jewelry and other goods during the Untold Festival in Cluj-Napoca were caught by Romanian police officers at the airport. The three, two men and one woman, all between the ages of 30 and 46, were detained while attempting to fly to Barcelona. Police from the Cluj-Napoca Criminal Investigations Bureau […]
