EIB gives Romania loans worth EUR 1.1 bln in 2016

Simona Bazavan 01/03/2017 | 13:14

The European Investment Bank (EIB) gave loans totalling EUR 1.04bn in 2016 in Romania while the European Investment Fund (EIF – which together with EIB forms the EIB Group) executed operations worth EUR 61m, according to a statement from the institution.

“2016 was a very successful year for the EIB in Romania, where we signed more than EUR 1bn of new operations. In addition to lending, our technical assistance helped to identify and develop projects in Romania suitable for financing. We will continue to focus in the future on investments contributing to growth and employment, accelerating the absorption of EU funds and improving Romanian citizens’ living standards,” said Andrew McDowell, vice-president of the EIB.

Through the co-financing of EU funds the EIB provided long-term funding totalling EUR 760m for priority infrastructure projects during the 2014-2020 EU programming period with a total investment cost of some EUR 12.2bn, according to its data.

Last year it also continued to support SMEs and midcap companies as well as helped increase the energy efficiency of residential buildings in Bucharest, said company representatives. It lent a total of EUR 57m to the municipalities of Bucharest sectors 2, 4 and 6 which bank representatives say helped reduce energy consumption of the buildings concerned of around 50 percent.

In addition to its lending activities, the EU bank provided advisory support to Romanian authorities at various levels, signing Project Advisory Support Service Agreements worth some EUR 19m with the National Public Procurement Agency (ANAP) and the Ministry for European Funds respectively.

Simona Bazavan

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