EIB moves to support Romanian businesses and municipalities as Vice-President Tsakiris visits Bucharest

European Investment Bank (EIB) Vice-President Ioannis Tsakiris met Romania’s political leadership and business representatives in Bucharest today to discuss priorities for economic growth as the EIB entered new agreements to support companies in the country.

The EIB signed guarantee agreements with Banca Comerciala Romana, Raiffeisen Bank and UniCredit Bank under the Resilience and Recovery Fund Romania. The guarantees totalling €98 million with the three banks aim to help Romania’s large enterprises, including large mid-caps, and small municipalities invest in climate action and the digital transformation. The guarantees will enable the partner banks to offer more favourable loan terms, triggering as much as €750 million in new lending.

“We continue to deploy resources where they are needed, supporting Romania and addressing its key priorities,” Tsakiris said. “I had the opportunity to meet and engage with our partners in the Romanian government, and in the business community, and I am proud that our joint forces, financing and project implementation, will shortly bring tangible benefits for businesses and citizens.

The guarantees come on top of a total €1.4 billion EIB contribution to RRF implementation in Romania. The EIB’s RRF support to date has been for the co-financing of two motorways — the A3 and A7 — in the country.

”We are working very closely with EIB on priorities such as infrastructure, jobs and skills, health and the green transition, which will ensure European competitiveness and economic resilience,” said Romanian Minister of Finance Marcel-Ioan Boloș. “Reflecting on our goals, as well as on the importance of connectivity for the country’s development and in Europe, I would like to offer a reminder of the  €1.4 billion sum that was already signed with EIB for safer road transport, including €1.2 billion for the A7 motorway and €200 million for the A3 motorway. These operations, part of a €4 billion financing request to co-finance projects in the transport and health sectors, backed by EU funding, namely the Recovery and Resilience Facility and the multiannual financial framework, are advancing very well. Furthermore, EIB Group is an active partner in implementing financial instruments and promoting access to finance, complementing our national budget measures and actions.”

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In Romania in the first half of 2024, EIB financing has surpassed €754 million for operations with the public, corporate and banking sectors in the fields of transport, education, energy and small and medium-sized enterprises.