EIB lends 360 mln euro to Romania for EU-funded projects

The European Investment Bank (EIB) said on Friday it is lending Romania 360 million euro ($399 million) to finance the national contribution to EU-supported priority projects and another 19 million euro for project implementation and funds absorption consultancy services.

The first loan aims to finance the national contribution to growth-oriented investments during the 2014-2020 EU programming period under operational programmes targeting competitiveness, human capital and large-scale infrastructure, EIB said in a press release.

Also, the loan will support the Romanian partnership agreement with the EU for the 2014-2020 programming period, focusing on investments in the areas of energy, environmental improvement, research, development and innovation, IT&C, employment, education and social amenities.

At the same time, the EU bank has signed two project advisory support service agreements worth some 19 million euro with the National Public Procurement Agency (ANAP) and the Ministry for European Funds respectively.

"By partially covering state budget expenditures incurred for supporting EU funded projects, the impact on the state budget is reduced. This loan also has the potential to boost investments in the three major areas of interest," finance minister Anca Dragu said.

So far this year, EIB provided 1 billion euro co-funding for transport and environmental projects and another 300 million euro for environment sector projects under the large infrastructure operational programme during the 2014-2020 EU programming period.

Since the start of EIB operations in Romania the bank has cumulatively provided some 11.4 billion euro of financing including the loan signed today. Flagship projects financed by the EIB in Romania include the Pirelli Slatina tyre factory, the Bucharest metro, the ENEL Green Power project and Residential housing energy efficiency programmes in the capital.

($=0.9001 euro)

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