The European Investment Bank (EIB) is lending EUR 22.6 million to finance multi-sector projects located in the Municipality of Oradea. The loan will support investments related to the local road network and tourism.

Benefiting from affordable long-term financing provided by the EIB, the Municipality of Oradea will be able to continue the implementation of its priority investment programme. The project will help to increase the living standards of Oradea’s citizens and strengthen the competitiveness of the city’s local economy. The development of tourism infrastructure will contribute to attracting more tourists to Oradea, while the upgraded road network will generate savings in travel time, improve road safety and contribute to the reduction of energy consumption and traffic-related emissions.

The project will be co-financed by EU funds and Oradea’s own resources. This EIB loan is building on the successful cooperation between the EIB and Oradea Municipality that started in 2008 when the EIB granted a loan of EUR 16.3 million for the modernisation of public transport infrastructure in Oradea.