Intesa Sanpaolo Bank, the Romanian subsidiary of the Intesa Sanpaolo Group, the most important banking group in Italy, signed with the municipality of Lugoj a green loan contract in the amount of RON 72.1 million (EUR 15 million) for a period of 12 years, according to a press release quoted by Bursa.ro.

This will support large-scale European projects, contributing to sustainable development and strengthening local infrastructure, according to the source.

The funds granted through this contract will be used to co-finance the expenses associated with several European projects in education and local public administration under the National Recovery and Resilience Plan (PNRR).

These projects fall under Component C5 - "The Renovation Wave" and the Regional Operational Program, Priority Axis 9 - "Supporting the economic and social regeneration of disadvantaged communities in the urban environment," according to the release.

iulian@romania-insider.com

(Photo source: Teodororoianu/Dreamstime.com)