Brussels, 29/09/2008 (Agence Europe) - On 25 September, the European Investment Bank (EIB) and the Communauté d'Agglomération Orléans Val de Loire (AgglO) signed a memorandum of understanding for a direct loan of €75 million to finance the CLEO project, the tram system of Orléans. Another €100 million is to be in the form of a direct loan by the EIB through its banking partners in 2009.
The EIB agreed to finance the AgglO project because of the beneficial impact that it will have on the environment, as well as in terms of urban enhancement, economic growth and social cohesion and also sustainable development. The CLEO project will serve25 stations and 6 park & ride facilities in the municipalities of Chapelle Saint-Mesmin, Ingré, Saint-Jean de la Ruelle, Orléans and Saint-Jean de Braye for an overall cost of around €350 million. Forming an east-west axis across the Orléans conurbation, CLEO includes a tram line, of which 90% will run in corridors specifically for the tram, widened pavements, pedestrian safety crossings and cycle paths alongside the tram line, while maintaining the existing traffic lanes wherever possible. Furthermore, the initiative ties in with a project for the overall redevelopment of the areas crossed by the tramline in close cooperation with the municipalities and thus supports various urban regeneration schemes. (O.L./transl.jl)