Gov’t adopts project on historic neighbourhoods rehabilitation

The Executive adopted during the meeting held on Wednesday a draft law on granting a 3-million euro loan and a 2-million euro financial contribution for the rehabilitation of old buildings in the historic neighbourhoods of Timisoara (western Romania).

‘The Government adopted a draft law approving the ratification of a lending and financing agreement between KfW Frankfurt am Main and Romania representing through the Ministry of Public Finances the Timisoara Municipality, on a 3-million euro loan and a 2-million euro financial contribution to the rehabilitation of the historic neighbourhoods in Timisoara,’ said the Government’s spokesperson Ioana Muntean at the end of the meeting on Wednesday.

According to her, the project has as main beneficiaries the building owners, individuals, companies, the municipality or other public institutions. ‘By rehabilitating the historic buildings in these old neighbourhoods the tourist attractiveness level will increase which will lead to investors’ being attracted to Timisoara,’ said Ioana Muntean.

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