The city of lasi, the third largest in Romania, will benefit from an improved public transport infrastructure with the help of a €15 million EBRD loan for rehabilitation of the city’s tram network. A €5 million portion of the loan is syndicated to Raffeisen Zentralbank Österreich AG.
The loan, with a maturity of 13 years, will be used to finance the modernisation of 16.4 kilometres of tram infrastructure, help reduce the noise and vibrations in the city centre, increase the speed of trams on the renewed sections and improve safety standards.
The project includes technical cooperation funds to assist the city with restructuring and improvement of public transport services in Iasi, including tendering and regulation of mini-bus services. The Iasi Public Transport Company will receive advice on commercialisation and identification of cost-effective outsourcing options. SECO, the Swiss State Secretariat for Economic Affairs, also supported the project by funding a feasibility study and providing technical, economic and environmental assistance.
