The European Investment Bank (EIB) is lending EUR 21 million to the Municipality of Oradea to finance improvements to its urban infrastructure. EIB funds will also support investments targeting Climate Action objectives, such as energy efficiency, renewable energy and sustainable transport.

The EIB will complement EU grants made available to support the implementation of the 2017-2022 General Urban Mobility Plan of the City of Oradea, its Sustainable Energy Action Plan and its Integrated Urban Development Strategy. Together, these investments will improve living conditions in the City of Oradea and address the economic, environmental, climate, demographic and social challenges faced by the city.

The EIB’s Head of Division for operations in Romania, Bulgaria and Turkey, Dietmar Dumlich, commented: “The upgrade of the urban infrastructure of Oradea, being an important regional economic hub, will have significant socio-economic benefits for the residents and businesses of the city and surrounding areas. It will help to increase the quality of life and raise the attractiveness of the city, stimulating further investments and Oradea’s economic development”.

This operation renews the EIB’s successful cooperation with Oradea Municipality. So far the EU bank has provided two loans to Oradea amounting in total to EUR 40 million. These loans have financed projects supporting the city’s transport infrastructure and urban development, such as local roads and amenities increasing the city’s tourism attractiveness.