IFC’s loan will help Timisoara co-finance projects already supported by the European Union, including improvements to transportation, district heating, urban renewal, and social infrastructure, IFC said in a statement.
This is the second IFC loan to support investment in local infrastructure in Romania alongside the European Union.
In 2013, IFC provided RON34 million to the municipality of Botosani to improve the energy efficiency of the municipal heating system
Timisoara is the third largest city in Romania and is the main social, economic and cultural center in the western part of the country.