EIB grants EUR 300 mln loan to Romania for environmental projects

Newsroom 17/06/2016 | 13:55

The European Investment Bank (EIB) is lending EUR 300 million to Romania to support the environment sector projects under the Operational Programme Large Infrastructure during the 2014-2020 EU programming period, according to the EIB.

“The EIB loan will co-finance priority projects with a total value of some EUR 4.5 billion, contributing to an increase in Romania’s utilisation of EU grants. The operation will support the implementation of projects relevant for compliance with key EU directives regarding the water and municipal solid waste management sectors, delivering on climate action and environmental protection while at the same time contributing to sustainable development that translates into enhanced living standards,” says Cristian Popa, EIB vice-president.

“The signed financial contract is proof of the good cooperation between Romania and the EIB, which provides ongoing support for increasing the absorption of EU funds and achieving the conditions to which our country committed when joining the European Union,” says Anca Dragu, the Romanian minister of Public Finances.

The EIB financing is granted in the form of a Structural Programme Loan. In addition to large-scale infrastructure projects, the EIB loan may also be used to finance smaller schemes, which, given their limited size, would otherwise not qualify for direct EIB financing.

The loan is a continuation of the EU bank’s support for strategic priority investments under EU Operational Programmes in Romania, following the EUR 1 billion National Strategic Reference Co-financing loan for Transport and Environment projects provided under the 2007-2013 programming period.