BUCHAREST (Romania), June 8 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said on Friday it is lending 20.4 million euro ($25.4 million) to the western Romanian city of Arad to finance the acquisition of new energy-efficient trams.
"In addition, the project includes the introduction of an e-ticketing system for public transport in Arad, with the support of grant financing from the EBRD’s Shareholder Special Fund," the EBRD said in a statement.
The EBRD has already provided 33 million euro to the city of Arad to finance the rehabilitation of tram infrastructure and modernise the streets along the main north-south axis, the statement added.
The EBRD has invested over 5.7 billion euro in various sectors of Romania's economy so far.
($ = 0.8028 euro)