Intesa Sanpaolo wins the auction to finance the Green Public Transport project in Bucharest
- Green loan worth up to 150 million lei
Intesa Sanpaolo Bank, the Romanian subsidiary of the Intesa Sanpaolo Group, has been selected by the Bucharest City Hall, following a tender for a 150 million lei loan to finance several public investments.
The loan falls under the category of green financing and will be used to co-finance the project „Acquisition of less polluting means of transport needed to improve public passenger transport in the Municipality of Bucharest”, which is part of a series of vital public investments for the city, with a particular focus on urban mobility and reducing environmental impact. The funds will be used to purchase 100 autonomous trolleybuses, an important step towards modernizing and improving the city’s public transport infrastructure.
„We support the City Hall in this initiative to improve the quality of public transport and reduce the environmental impact in Bucharest. We are convinced that this project will bring significant benefits and will contribute to strengthening the local infrastructure and increasing the quality of life for the inhabitants of the Capital.” said Vlad Ponta, Deputy General Manager and Head of Corporate Division of Intesa Sanpaolo Bank Romania.
“I am delighted that the banking sector is open to work with PMB, further proof that our investments are going where they should. I thank Intesa Sanpaolo Bank and I appreciate the interest shown in financing the 100 trolleybuses, a particularly important purchase for the city and its citizens, given that the means of transport purchased are clean and more than half of the STB fleet needs to be modernized.
PMB wants to invest even more in mobility in the near future, so the involvement of the banking sector is an essential factor.” said Nicușor Dan, Mayor General of Bucharest
The loan was granted for a period of 10 years, providing Bucharest City Hall with the financial resources needed to meet its sustainable urban development objectives. The funding will be used to implement the „Program for improving air quality by reducing greenhouse gas emissions using less polluting vehicles in local public passenger transport”.
Intesa Sanpaolo Bank Romania remains steadfast in its firm commitment to supporting sustainable development initiatives and working with local authorities to create a cleaner, more efficient and environmentally friendly urban space.
Intesa Sanpaolo Group is aware of the significant impact it has globally on the social and environmental context in which it operates, paying particular attention to ESG (Environment, Social, Governance) challenges and issues and supporting public or private institutions that are working towards sustainable development. In fact, last year, for the fourth year, the top ranking, carried out annually by the research company Institutional Investor, named the Intesa Sanpaolo Group as the financial group with the best ESG (Environmental, Social, Governance) program among European banks.
Intesa Sanpaolo Bank Romania
Intesa Sanpaolo Bank is the Romanian subsidiary of the Intesa Sanpaolo Group. Under the leadership of Intesa Sanpaolo’s International Subsidiary Banks Division, the bank has been operating in the Romanian market since 1996 as a universal bank, supporting local and foreign entrepreneurs who want to grow their businesses, giving them access not only to local products and services, but also to the global offering of one of the world’s most solid and profitable financial groups.
Intesa Sanpaolo
Intesa Sanpaolo, with over €420 billion in loans and €1.3 trillion in customer financial assets at the end of 2023, is the largest banking group in Italy, with a significant international presence. It is a European leader in wealth management, with a strong focus on digital and fintech. The Group will provide €115 billion of Impact lending by 2025 to support communities and the green transition, together with a €1.5 billion program (2023-2027) to help people in need. The Bank’s network of museums, the Gallerie d’Italia, hosts its owned artistic heritage and cultural projects of recognized value.
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