- Road Safety Impact Assessment and new plans to reduce road fatalities in Bucharest Sector 1
- Advice delivered through the Safer Transport Platform – Road safety advisory programme
- Advisory support lays the ground for future EIB financing
EIB Vice-President Christian Kettel Thomsen, and the Mayor of Bucharest Sector 1 Clotilde Armand, today signed an agreement for the provision of advisory services to help improve road safety in Romania’s capital, Sector 1.
"Today we signed an advisory agreement with the European Investment Bank to enable best-practice to improve the road safety plan being implemented in Sector 1. The unique expertise of the European Investment Bank will help us to adapt the measures based on the most effective road safety schemes from across Europe here in Sector 1. This will enable us to achieve our final goal, reducing road accidents,” said Ms Clotilde Armand, Mayor of Bucharest Sector 1.
EIB Vice-president Christian Kettel Thomsen commented: “Our advisory support through the Safer Transport Platform plays a major role in the fight to promote road safety and achieve the EU target of zero fatalities in 2050. This support will help Bucharest Sector 1 to identify the right measures to channel investments that create an impact in the security and life of Romanian citizens.”
The municipality of Bucharest Sector 1 requested EIB financing and advisory support to improve its road safety. In particular, the authorities require assistance to prepare a Road Safety Impact Assessment, estimating the impact of a series of road safety measures. The advisory support, provided by the European Investment Advisory Hub, backed by the EIB and European Commission, will focus on proving the feasibility and sustainability of the proposed schemes, providing suggestions and inspiration for other improvements to the road safety system.
Alongside developing the Road Safety Impact Assessment, EIB experts and external service providers will collect and analyse available data and information on road accidents and injuries in Sector 1 in Bucharest, identifying the most common types of accidents and locations. The advisory support will include the review of schemes and programmes targeting road safety already developed by the municipal authority, resulting in the proposal of additional measures of improvements costing up to EUR 20 million in total.
Delivered through the Safer Transport Platform – Road Safety Advisory, advisory support will expand and enhance expertise available, improving the road safety project’s funding and financing opportunities and laying the foundations for a potential EIB loan.
Launched in 2019, the “Safer Transport Platform – Road Safety Advisory” provides a single access point to the full range of existing EIB and European Commission advisory services and financial products. It guides potential applicants to the appropriate funding and financing instruments. The service is supported by the European Investment Advisory Hub (EIAH) and includes a website with a contact form, a needs assessment exercise and awareness raising activities.
Background information
Bucharest Municipality of Sector 1 is an existing borrower of the EIB. Two operations to finance thermal rehabilitation interventions in residential buildings have been signed since 2011, for a total financing of EUR 190m.
About the European Investment Advisory Hub
The European Investment Advisory Hub (EIAH) is a partnership between the European Investment Bank Group and the European Commission under the Investment Plan for Europe. The EIAH is designed to act as a single access point to various types of advisory and technical assistance services. It supports the identification, preparation and development of investment projects across the European Union. Building on the success of the EIAH and other advisory programmes, the EIB and the European Commission agreed to provide technical, financial and strategic expertise to project promoters, regional and national authorities, and financial intermediaries under the InvestEU Advisory Hub.