EIB Group support for projects in Romania amounted to 865 million Euro in 2019
Petre Barac
Posted On February 13, 2020
The European Investment Bank Group (EIB Group), comprising the European Investment Bank (EIB) and its subsidiary, the European Investment Fund (EIF), provided 865 million Euro of loans, guarantees, equity and microfinance operations in Romania in 2019.
Support to public and private sectors in the areas of industry, energy, education and services, facilitating investments of smaller companies, represented in total some 0.4% of Romania’s GDP in 2019.
Today’s event marked the financial closing of the following operations:
- 14 million Euro loan to finance energy efficiency upgrade of 475 buildings in Bucharest Sector 4,
- 31.3 million Euro loan to support the deep retrofit of twelve existing public educational facilities, the thermal rehabilitation of eight residential buildings and the construction of seven new schools as Near Zero Energy Buildings in Bucharest’s Sector 6. This project is supported by European Local Energy Assistance facility ELENA,
- 15 million Euro intermediated loan to ProCredit Romania, to provide access to long term, affordable financing to SMEs with fewer than 250 employees and Mid-Caps companies with less than 3,000 employees. 20% of the loan targets Climate Action-related projects in areas such as renewable energy, energy efficiency, low carbon transportation and waste management.
“We are pleased to start 2020 with three good new operations, following a positive 2019 for the EIB Group in Romania. Last year, the EU bank provided well-balanced support to the Romanian economy of €865m in total to projects implemented by the public and private sectors, and to SMEs in partnership with commercial banks. In 2019, 10 200 businesses benefited from EIB operations, sustaining some 107 000 jobs. In advisory services, among others, our cooperation with local authorities resulted in the approval of a European Commission grant co-financing Romanian projects worth 2.5 billion Euro in 2019,” said EIB Vice-President Andrew McDowell.
