economedia.ro/ciprian-ciucu-bucurestiul-a-pierdut-

The Mayor of Bucharest, Ciprian Ciucu, announced that the city lost 95% of PNRR funds intended for seismic building consolidation. This loss prompted the city to secure a €29.73 million loan from the Council of Europe Development Bank to continue these projects. Ciucu explained that delays in approval processes contributed to the loss of funds. He emphasized the need for ongoing consolidation efforts despite the long-term nature of the loan. The approved project establishes a risk fund related to the loan, which is guaranteed by the municipality. The aim is to enhance the safety of buildings and attract private investments for further consolidation efforts.