With the EBRD finance, the city will rehabilitate key streets and water infrastructure, purchase new trolleybuses and introduce a privately-operated automated system for collecting fares.
“Galati is a major port town on the Danube river, in eastern Romania, with about 250,000 inhabitants. Its economy is based around the Port of Galați, a naval shipyard, a steel plant and mineral exports, making the city one of the largest hubs for commercial traffic from Romania. In recent decades, underinvestment in urban infrastructure has led to poor road conditions, restricted passenger capacity, increased travel time and costs, as well as greater fuel consumption and related air pollution,” The EBRD said in a press release Monday.
EBRD has already financed similar upgrades in Sibiu, Iasi, Arad, Brasov and most recently Pitesti, having invested almost EUR180 million in urban transport improvements across Romania.
EBRD is the largest institutional investor in Romania and has invested over EUR6.8 billion across 364 projects in the country to date. It has also mobilized over EUR14 billion for these ventures from other sources of financing.