The European Investment Bank (EIB) and the Municipality of Sofia signed a framework loan of 60 million euros (71 million US dollars) to promote sustainable urban mobility in the Bulgarian capital.
In accordance with the objectives of the General Development Plan of the City of Sofia and the Sustainable Urban Mobility Plan of Sofia, 2019-2035, the EIB will finance projects comprising the construction and rehabilitation of sections of the road and road network, parts of the tramway , as well as pedestrian and cycling infrastructure.
In addition, public transport projects such as buses and the installation of electric vehicle charging infrastructure can be supported.
“As the fastest growing Bulgarian city, Sofia faces the challenge of continuing to grow in an environmentally sustainable way,” said Lilyana Pavlova, EIB Vice-President.
“At the EIB, we are very happy to sign this loan which will support sustainable mobility projects and improve the daily life of the inhabitants of Sofia. Our funding will boost jobs, improve air quality and make Sofia a safer and faster place to travel.
For her part, the Mayor of Sofia, Yordanka Fandakova, added: “The European Investment Bank is a reliable partner of Sofia, which supports our biggest infrastructure projects.
“With the current construction program, we will build the missing sections of the downtown highway system, which will remove downtown traffic, reduce congestion and contribute to cleaner air.
“With the construction projects of the T. Kableshkov and Filip Kutev boulevards, we will improve mobility in the most densely populated southern districts and with the planned boulevards in the northern part of the city, we will give them a new development impetus.
“A flagship project for Sofia is the ‘Green Ring’, which will connect the main areas of the city with cycle and pedestrian paths. We continue to build and modernize tram lines, which improves transport connectivity.
“The funds provided will allow us for a short period of time to build infrastructure with a high environmental impact, improving the quality of life of more than one million citizens in Sofia.