
The EBRD will provide an 8 million euro loan for a project to rehabilitate, improve the drainage system and protect Chisinau from floods on the Bic River.
As noted in the materials of the European Bank for Reconstruction and Development, the total cost of the project will be 20 million euros. An EBRD loan of €8 million will be complemented by an equivalent loan from the European Investment Bank and an investment grant of €4 million from the Green Climate Fund. The Bic River Rehabilitation and Flood Protection Project in Chisinau will be the city’s next investment under the Green Cities 2 – Window I Program (GrCF2W1), which aims to address the priority environmental issues of climate change adaptation and water quality, as well as supporting the implementation of the strategic goal Green City Action Plan to build climate resilient blue-green infrastructure. Proceeds from the investment and grant funds of the bank will be used to implement the first stage of measures aimed at reducing the risk of flooding on the Bic River; improving the protection of people, property and businesses from the negative impacts of severe flooding, which is expected to become even more devastating due to the projected impact of climate change, in particular due to more intense short-term rains. The project will fund a range of solutions to help control the weakening, release and transport of rain and river water, ranging from the restoration of current storm water, piloting sustainable urban drainage solutions, installing flap valves, to redeveloping river sections to increase capacity. The project aims to restore the Bic River so that it becomes an attractive asset for the city and the region. The project and related city activities can support the city's transformative ambitions by not only preventing further degradation of the river, but also bringing it back to life and restoring the natural environment. The improvement in the quality of life on the banks of the river is expected to promote communication and encourage economic regeneration of the city in order to increase the attractiveness of the city center. GrCF2 W1-Chisinau River Bic Rehab Flood Protection Project. & Flood Protection will be implemented in Chisinau municipality with the participation of Exdrupo, the municipal company responsible for the maintenance and operation of the storm sewer system.// 18.11.2022 — InfoMarket