External Financing for the Consolidation and Restoration Works at “Pasajul Unirii”
The Council of Europe Development Bank (CEB) granted a loan worth 7,860,000 Euro to Bucharest District 4 Municipality, in order to co-finance the consolidation and restoration works at the objective “Pasajul Unirii”.
Bucharest District 4 Municipality’s modernization strategy includes increasing safety in both pedestrian and road traffic, by providing a secure environment, with no risk of occurrence of accidents which could affect people’s life and health.
“Pasajul Unirii”, and at the same time Piata Unirii Area are the most important intermodal points in the Capital’s transportation, as they unify several districts. Therefore, the District 4 local public authority wanted to actively engage in the implementation of the safe disposal, respectively the consolidation and modernization of „Pasajul Unirii”.
The works focused on two solutions. The first was aimed to bring the passage back to its initial construction and functionality parameters, whereas the second one focused on meeting the safety and comfort requirements stipulated within current regulations in force.
TUD Investment Consulting acted as the financial advisor of Bucharest District 4 Municipality in terms of structuring and getting the financing.