about us | newsletter | contact | archive | members area
Mihai Patrascu, evoMAG
Competition is beneficial to the end customer»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   GREEN   |   INFRASTRUCTURE   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

EIB lends one billion euro to Romania for transport infrastructure projects

The European Investment Bank (EIB) is lending one billion Euro to co-finance with European Structural and Investment Funds priority transport infrastructure projects totalling 6.8 billion Euro to be implemented across Romania during the 2014-2020 EU programming period.

2017-07-19 09:39:16

EIB funds will cover the state budget contribution that co-finances priority transport investments under the Large Infrastructure Operational Programme 2014-2020 (LIOP). The location of the projects will vary, although the majority will be implemented in less developed regions of Romania and/or on TEN-T priority axes. The investments will benefit from EU grants and focus on promoting sustainable transport and removing bottlenecks in key network infrastructures.

Emphasis will also be given to the development of multimodal transport systems and the reduction of the environmental impacts of transport. The borrower is Romania, represented by the Ministry of Public Finance, the promoter is the Ministry of Transport and the beneficiaries of the projects are the relevant national authorities and companies implementing projects under LIOP.

Andrew McDowell, Vice-President of the European Investment Bank, commented: "The EIB's loan will support strategic transport infrastructure investments that are important for increasing mobility, safety and interconnectivity in Romania and strengthening the competitiveness of the country. This project represents a good example of EIB cooperation with the Romanian economy, to which the EIB provides long-term affordable financing and advisory services, accelerating the absorption of EU grants, fostering growth and employment and improving the everyday life of citizens."

The EIB financing is being granted in the form of a Structural Programme Loan (SPL); in addition to financing large-scale infrastructure projects, this type of loan can be used to finance smaller schemes, which, due to their limited size, would otherwise not qualify for direct EIB financing.



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  8726 Views
Daily Info
CTP wins two awards at real estate gala

CTP was awarded with two important distinctions by an international publication, at a gala dedicated to the Romanian real estate market.

ARIES: Romanian IT industry has doubled its revenue in six years, reaching a market worth about five billion Euro

ARIES Transilvania announces the results of an extensive national IT market study in Romania, carried out with the support of the City Hall and the Cluj-Napoca Local Council, ...

EBRD acquires 4.4 per cent stake in Globalworth

The European Bank for Reconstruction and Development (EBRD) has acquired a 4.4 per cent stake in real estate developer Globalworth, whose portfolio in Romania reached 1.08 bil...

Nokia appoints Joerg Erlemeier as Chief Operating Officer

Nokia announced the appointment of Joerg Erlemeier as Chief Operating Officer (COO) and member of the Group Leadership Team (GLT) with immediate effect.

KeysFin: Multinationals control 60 per cent of the Romanian IT sector

Large foreign investors have reached a share of over 60 per cent of the local software industry, according to a study by local financial consultancy firm KeysFin.

 
 
   
advertising

advertising

advertising

advertising

advertising

advertising

More on News
Iohannis: Justice independence, public positions' integrity are constitutional values not to be negotiated

Promoting the rule of law and Justice independence, fighting against corruption, ensuring integrity in public positions and dignities are constitutional values that cannot ...

Garanti Leasing signs a loan agreement for 15 million Euro with EFSE

Garanti Leasing, part of Garanti Romania, has signed a loan agreement of 15 million Euro with the European Fund for Southeast Europe (EFSE). The facility is meant to increa...

Mega Image to continue expansion in Romania in 2018

Local retailer Mega Image will continue its expansion next year, according to Vassilis Stavrou, the general manager of the Mega Image operations in Romania.

EBRD acquires 4.4 per cent stake in Globalworth

The European Bank for Reconstruction and Development (EBRD) has acquired a 4.4 per cent stake in real estate developer Globalworth, whose portfolio in Romania reached 1.08 ...

Construction works for the first pediatric oncology and radiotherapy hospital in Romania to begin with 8 million euro

Daruieste Viata Association is an NGO to start the construction works for the first pediatric cncology and radiotherapy hospital in Romania, in the court yard of the “Mar...

Posta Romana auto park to increase by 180 units, following investment of 3 million Euro

Posta Romana auto park will increase by 180 units, out of which 80 cars of 3.5 tones will be functional this week, following that until the end of the month to be distribut...

Nokia appoints Joerg Erlemeier as Chief Operating Officer

Nokia announced the appointment of Joerg Erlemeier as Chief Operating Officer (COO) and member of the Group Leadership Team (GLT) with immediate effect.