The leverage level of the city hall is estimated at 17.67 percent, of the maximum 30 percent legally accepted. Also in January, Romanian company Search Corporation won the EUR 1.24 million contract for supervising the construction road infrastructure works in the Adunatii Copaceni area. The contract was signed with the Romanian National Company of Motorways and National Roads (RNCMNR).
The supervising operation is co-financed by the European Commission and the Romanian government, through the state budget, the official data state. The completion of the works is scheduled within 44 months from the start date.
In September, the European Investments Bank (EIB) announced it could supply EUR 1 billion of co-financing for Romanian infrastructure, transport, water and sewage development, as part of EU programs, by 2013. The total cost of those projects could reach EUR 12 billion.
The EIB facility could cover the cost of key infrastructure projects, and contribute to the improvement of the absorption rate of EU funds even from incipient stages. The project aims at reducing pollution and energy consumption, plus improving access to drinking water and waste management services, according to the EIB. The program proposal was submitted at the end of August and is currently under appraisal by the financial institution. It will cover projects which may also benefit from EU funds, as well as projects which are not covered by EU funding.
Two other EIB programs for Romania are under consideration. A EUR 26 million financing line to Compania de Apa Somes S.A., the regional operating company for water and waste water services in Cluj and Salaj counties is aimed at co-financing the investment project for the expansion and rehabilitation of the water and waste water networks. The entire cost of the project is EUR 197 million. EIB is also assessing EUR 250 million of financing to several leasing companies in Romania.