EIB approves financing for upgrading Romania’s railways

The Board of Directors of the European Investment Bank (EIB) approved 3.2 billion Euro of new financing to support clean energy, transport, corporate research and development, and business investment.

“The first EIB Board meeting of 2024 has approved investments worth €3.2 billion to accelerate the green transition globally. This includes €1.6 billion to scale up wind renewable energy in the Balkans; to enable business, schools and hospitals in Latin America and Africa to use solar power; and to back clean energy innovation across Europe.” said Nadia Calviño, President of the European Investment Bank.

EIB backs new projects in France, Spain, Portugal and Romania. The Board approved over one billion Euro of new financing for transport investment.

This includes backing upgrading of 328 km of passenger and freight railways in Romania, supporting electrification and rehabilitation of the route between Cluj and the Hungarian border, and rehabilitation of the line between Arad and Caransebes to improve safety.