A London-based bank has offered a €22 million (£18.9m) loan to upgrade buses in a Romanian city.
The European Bank for Reconstruction and Development’s (EBRD) money will pay for a network of low emission buses, with the aim of curbing pollution and improving infrastructure in Constanta, home to the Black Sea’s largest port.
They will comply with the EU’s Euro 6 emission standards, resulting in much lower Carbon Dioxide emissions than previous models.
The city of 425,000 residents, which is an important hub for tourism and commerce, will also benefit from grants to set up a company with the aim of continually improving transport services.
A regulatory body will also be established and helped to develop a tool to monitor progress and increase the efficiency of the network in the future.
Matteo Patrone, EBRD Regional Director for Romania and Bulgaria, said: “We welcome the city’s commitment to reorganising its transport operations, renewing the fleet and improving the operational efficiency in line with EU standards. The EBRD is pleased to support this crucial undertaking that will improve the quality of urban services for almost half a million people.”