Medias will scale up urban regeneration with a RON 38 million (€7.7 million) EBRD loan Cities account for 70 per cent of energy use, 80 per cent of greenhouse gas emissions The EBRD’s fast-expanding €3 billion urban sustainability programme, EBRD Green Cities, has reached a new growth milestone, with Medias in Romania becoming the 50th city to sign up to improve the environment in which its citizens live and plan a more sustainable future. The EBRD will lend Medias RON 38 million (€ 7.7 million) to part-fund a bigger EU project to improve its infrastructure. “We are delighted that Medias is becoming EBRD Green Cities’ 50th member,” said Nandita Parshad, Managing Director, EBRD Sustainable Infrastructure Group. “When it comes to addressing the climate emergency, cities must be front and centre given the need for clean air, decarbonised urban transportation and green and reliable energy access for all. This is why we established our flagship EBRD Green Cities Programme - to introduce bottom up planning for green priority investments for cities.” Medias, located in Sibiu County in the central Romanian region of Transylvania, is an existing EBRD client. The city is looking to revitalise its public infrastructure as pre-requisite for business and economic development in the region. The city, with a population of approximately 56,400 inhabitants, suffers from legacy infrastructure issues across its transport network, public buildings and road systems. Medias plans to address these issues through a broad programme of investments, focused on accelerating the City’s sustainable development and transition to a low-carbon future. Cities, which account for 70 per cent of energy use and 80 per cent of greenhouse gas emissions in the world, represent a big opportunity to tackle climate change and environmental degradation. This is particularly true of cities in the EBRD regions, where obsolete urban infrastructure diminishes the quality of life of citizens, increasing greenhouse gas emissions, and preventing communities from adapting to climate change. EBRD Green Cities was launched in 2016 with just €250 million of funding, which was expected to last five years. The programme proved so popular that its funding was quickly increased. EBRD Green Cities has won support from the Green Climate Fund (GCF) and attracted significant levels of co-finance, expanding the number of cities that can be supported and further raising the level of ambition. EBRD Green Cities offers tangible support to help cities address their environmental issues and improve the quality of life of their residents. All participating cities embark on a trigger project to improve their local environment then, with EBRD help, work on a Green City Action Plan (GCAP) to create a tailor-made list of further environmental investments and policy changes most suitable to address their environmental challenges. In the case of Medias, the trigger project will be work on rehabilitating, modernising and improving energy efficiency in public buildings, as well as public transport investments supporting e-mobility. Both will bring significant greenhouse gas emissions savings. The EBRD loan will represent the city’s co-financing of a larger investment for a total value of RON 138.4 million (€28.1 million), approved under the relevant EU Regional Operational Programme in Romania. Medias is the 3rd green city in Romania, after Craiova and Iasi, while Timisoara and Constanta are expected to join the programme soon. To date, EBRD has signed 8.8 billion in over 460 projects in Romania.
If you’re searching for a hidden gem in Europe, Romania is calling your name. Tucked between the Carpathian Mountains and the Black Sea, this country is an untouched marvel, combining natural beauty, rich history, and endless opportunities for entrepreneurs and retirees alike. Romania offers a unique blend of modern life and ancient charm, making it […]
Let’s talk about the lack of connection with our body and how this is closely tied to burnout, plus, what to do about it. So often throughout the day, we live almost entirely in our minds. We’re focused either on what we have to do at the moment—tasks that increasingly demand mental effort over physical […]
Six men and one woman from Romania have been accused of recruiting dozens of children and adults from foster care centers, whom they then transported to Hungary, where they turned them into slaves, forcing them to work under inhumane conditions. The accused are from the localities of Ozun and Chilieni, Covasna County, Romania, and allegedly […]
The Museum of Collectivization, the first in Romania dedicated to the forced collectivization period of the communist era, is set to open a new wing, Corp B, funded through the EU-backed National Recovery and Resilience Plan (PNRR) and co-financed by the National Cultural Fund Administration (AFCN). With the new building, the museum located in Tămășeni, […]
Romania’s “Madrigal – Marin Constantin” National Chamber Choir, conducted by Anna Ungureanu, will be in Luxembourg and Belgium, as part of the “Bridges Across Europe/Punți peste Europa” European tour, where it will perform five extraordinary concerts. The performances will take place between November 20 and 25, with the help of the Ministry of Culture, the Romanian Embassy […]
The European Development Bank approved a EUR 140 million loan for Romania’s “Cultural Foundations” project, aimed at preserving historical monuments and constructing cultural buildings in the country. The project targets 14 investment objectives of national and European relevance, administered by public institutions under the Ministry of Culture, including the Romanian Athenaeum, the Romanian National Operas […]
