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.
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