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.
The Patriarch of the Romanian Orthodox Church, Daniel, congratulated Pope Leo XIV for succeeding Pope Francis on Thursday, May 8. He expressed confidence that the new pope will continue to promote "the spirit of dialogue, peace, and cooperation between the Roman Catholic Church and the Orthodox Church." "In a world facing multiple spiritual, economic, and […]
The organizers of the Untold festival announced they will offer a RON 150 (EUR 30) voucher toward the purchase of a festival pass to anyone who votes on May 18, during the second round of the presidential elections. In an online message, Untold representatives emphasized the connection between civic participation and the future of every […]
The Open Streets program, which sees the city's major arteries close for car traffic and become pedestrian areas, returns this weekend with a program of exhibitions, concerts, and a Festival of Lights. On Saturday, May 10, at 2:00 p.m., the public is invited to the Made in Romania exhibition, which presents a selection of civilian […]
Joseph Stiglitz, the famous economist and professor at Columbia University in New York, and winner of the Nobel Prize in economy in 2001, told an audience in Cluj, Romania, that governments must stimulate exports and key sectors when facing deficits. Stiglitz was in Romania on Thursday, May 8, to receive the title of Doctor Honoris […]
The Constitutional Court unanimously validated on Friday, May 9, the results of the first round of the presidential elections. It also rejected as unfounded a request to annul the elections filed by Sebastian-Constantin Popescu, the presidential candidate of the New Romania Party, it announced. The runoff, set for May 18, will see ultranationalist leader George […]
Bucharest's culinary scene welcomes back OLEA, the JW Marriott Bucharest Grand Hotel's celebrated Mediterranean destination, now reimagined with a fresh concept that blends authentic coastal flavours with contemporary sophistication. Following an extensive transformation, OLEA reopens its doors to offer guests a refined journey through the Mediterranean's sun-drenched culinary traditions, right in the heart of Romania's […]
