EIB Vice-President Ioannis Tsakiris and Ploiești Mayor Mihai Poliţeanu signed an agreement on advisory support today in the city, which is a major industrial hub 56 kilometres north of Bucharest.

The Ploiesti administration, which serves a metropolitan population of more than 266,000, is seeking to upgrade local transport infrastructure to keep pace with the area's economic growth and cut emissions that cause global warming.

Under the accord with Ploiesti, EIB Advisory will deploy its own experts as well as external consultants to provide guidance on financial and project management of transport projects. Assistance in preparing the grant application under the European Union's “Just Transition” Pillar 3 programme – Public Sector Loan Facility is also possible. The support is offered through the InvestEU Advisory Hub. Further support may be available at a later stage.

“We are very pleased to support Ploiesti in this transition toward climate neutrality,” said EIB Vice-President Ioannis Tsakiris. “This partnership underscores our commitment to climate action andsustainable urban development.”

Ploiești, the capital of Prahova County, has historically been a centre for the petroleum industry and serves as a hub for oil refining and petrochemicals. It is Romania's ninth-largest municipality and its proximity to other industrial centres as well as to tourist destinations increases its potential to become part of a major transport and economic corridor.

“Our partnership with the EIB is important and promotes the development of our city.,” said Mihai Poliţeanu, mayor of Ploiesti. “We are considering investments that closely align with the EU's social and environmental objectives, contribute to reducing carbon emissions and strengthen Romania's commitments to sustainable urban development.”

The EIB provides technical and financial expertise to support the development of sustainable and bankable projects in various sectors. In Romania, EIB Advisory is assisting authorities and businesses in preparing infrastructure investments, improving project planning and enhancing access to funding through tailored services and capacity building.