World Bank Partners with Municipality of Bucharest to Support Economic and Urban Development and Reduce Seismic Risk
BUCHAREST, March 4, 2019 - The Municipality of Bucharest and the World Bank signed today a Reimbursable Service Agreement (RAS) – a form of technical assistance project - to support the municipality in prioritizing and implementing key local development interventions aimed at improving the quality of life for the city’s residents.
Bucharest is a key engine of growth in Romania, situated in one of the most developed economic areas of the country. It also has the highest seismic risk among European capitals, however, and is one of the 10 most vulnerable cities in the world. Like all dynamic cities, Bucharest needs to continuously adapt to new challenges.