Timisoara Muni

completed

IFC is considering a loan in the amount of up to RON 155 million (approx. EUR 35 million equivalent) to co-finance the Municipality of Timisoara’s priority investment program of EUR 259 million covering 32 projects supported by the EU. IFC co-financing will focus on a subset of 17 projects across a range of sectors and focusing mainly on transport and social infrastructure, which are expected to be completed by 2015. Priority projects considered for IFC financing can be grouped into four categories:- Transportation and Urban renewal projects: Rehabilitation/modernization and expansion of the tram/trolley lines, intermodal public transport stations, the Bega Canal, roads, bridges and underground passageways, introduction of traffic management and video surveillance systems (IFC financing estimated at approx. EUR 26 million out of a total investment of EUR 56 million)- District Heating: upgrade and rehabilitation of the “non-coal” component of the existing district heating system to achieve timely compliance with EU emission requirements (IFC investment estimated at approx. EUR 1 million of the EUR 8 million “non-coal” component out of a total investment of EUR 45 million).- IT & SME support projects: these projects include a wide range of initiatives to improve existing business infrastructure for Small and Medium Enterprises and develop local competence centers (IFC investment estimated at approx. EUR 3 million out of a total investment of EUR 7 million)- Social Infrastructure projects: include rehabilitation, modernization and equipping of care centers for children and disadvantaged people, and other health and social services (IFC investment estimated at approx. EUR 3 million out of a total investment of EUR 5 million)Some of the projects are already under construction; others are being procured or will be procured soon through a public tender process.