The European Investment Bank (EIB) will provide consultancy to the municipality of Ploiesti on green transport projects, as part of European efforts to make urban life healthier for people and the environment, according to a press release from the bank, informs Agerpres.
EIB vice-president Ioannis Tsakiris and the mayor of Ploiesti, Mihai Politeanu, signed an agreement on Friday on advisory support for the city, a large industrial centre located 56 kilometres from Bucharest.
The Ploiesti administration, which serves a metropolitan population of over 266,000, aims to modernise the local transport infrastructure to keep pace with the area's economic growth and reduce emissions that contribute to global warming.
Under the agreement with the municipality of Ploiesti, the EIB advisory team will deploy its own experts and external consultants to provide guidance on financial and project management for transport projects. Assistance is also possible in preparing the grant application under Pillar 3 of the European Union's Just Transition programme - the public sector loan facility. The support is provided through the InvestEU Advisory Platform. The assistance could continue at a later stage.
"We are particularly pleased to support the municipality of Ploiesti in this transition towards climate neutrality. This partnership reflects our commitment to climate action and sustainable urban development," said Ioannis Tsakiris, quoted in the release.
Ploiesti, the capital city of Prahova County, has historically been a hub for the oil industry and serves as a centre for oil refining and petrochemicals. It is the ninth-largest city in Romania, and its proximity to other industrial centres and tourist destinations increases its potential to become part of a major economic and transport corridor.
"Our partnership with the EIB is important and promotes the development of our city. We are looking at investments that are closely aligned with the EU's social and environmental objectives, contribute to reducing carbon emissions and strengthen Romania's commitments to sustainable urban development," said Mihai Politeanu, mayor of Ploiesti.
The EIB provides technical and financial know-how to support the development of sustainable and cost-effective projects in various sectors. In Romania, the EIB advisory team assists authorities and businesses in preparing infrastructure investments, improving project planning and increasing access to EU financing through tailor-made services and capacity building.
The EIB is the long-term lending institution of the European Union, owned by its member states. Built around eight main priorities, the EIB finances investments that contribute to EU policy objectives, boosting climate and environmental action, digitalisation and technological innovation, security and defence, cohesion, agriculture and the bioeconomy, social infrastructure, high-impact investments outside the European Union and the Capital Markets Union.
The EIB Group, which includes the European Investment Fund (EIF), signed new financing worth almost 89 billion euros for over 900 high-impact projects in 2024, boosting Europe's competitiveness and security.
Comentează