EIB lends EUR 1 bln for Romanian transport infrastructure

Ovidiu Posirca 19/07/2017 | 09:54

The European Investment Bank has inked a EUR 1 billion loan deal with the Romanian authorities. The funds will be used to co-finance European Structural and Investment Funds priority transport infrastructure projects totaling EUR 6.8 billion that will be developed in the country during the 2014-2020 programming period.

The European lender said that the funds will cover the state budget contribution that co-finances priority transport investments under the Large Infrastructure Operational Programme 2014-2020 (POIM).

“Granted under favorable financial terms, this kind of facility lends additional support to the Romanian Government’s efforts to create or maintain jobs, reduce the social disparities between different areas and ensure the welfare of the population in a friendly environment, all leading to sustainable growth of the economy. Romania has previously benefited from four other similar facilities: two for the previous EU programming period amounting to EUR 1.3 billion and the other two for the current programming period, amounting to EUR 660 million, covering POIM environment sector projects, the Competitiveness Operational Programme and the Human Resources Operational Programme,” said Ionut Misa, the minister of finance.

The loan will be used to finance projects in less developed regions of Romania and/or on TEN-T priority axes.

The Ministry of Finance stated that the EIB loan has a maturity up to 25 years and the interest rate will be fixed or variable, depending on the negotiations between the state and the European bank.

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