EBRD supports creation of new urban areas in Moldovan capital
On 19 August, the European Bank for Reconstruction and Development (EBRD) announced it was lending €68.2 million to provide sustainable infrastructure for new urban areas in the Moldovan capital, Chisinau.
The sub-sovereign loan will be complemented by an investment grant of €1.9 million and is supported by the European Union, which provides first loss risk cover.
“Chisinau’s 800,000 people are currently living with traffic congestion, uncertain travel times, high energy consumption and air pollution as a result of rapid urbanisation,” the EBRD said in a press release. “To address this, authorities in the city, which was one of the first to join the EBRD’s flagship urban sustainability programme EBRD Green Cities, are developing three new urban areas on the periphery of the city which are to be supported by modern amenities.”
The project includes improving and constructing three urban road links: Mircea cel Batran Avenue, Mesager Street and Industriala Street.
The project aims to provide enough space to accommodate all road users, including pedestrians, the elderly, people with disabilities, cyclists, public transport users, as well as cars and commercial vehicles. It also enhances connectivity for freight movement and provides an alternative route for commuter traffic.
Also, by providing infrastructure and facilities for public and shared mobility, it encourages a shift away from private vehicle use. It will also encourage a shift towards non-motorised transport through the adoption of modern and inclusive urban infrastructure.
As well as boosting industrial and economic development, the project aims to enhance urban biodiversity through nature-inclusive measures, including the establishment of a wetland park in La Izvor Park’s Lake 4 area.
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