Romania's local administrations apply for EUR 525 mln financing from Development Fund

The local administrations in Romania submitted applications for getting financing from the new Development and Investment Fund in the amount of RON 2.5 billion (EUR 525 mln), the head of the Social Democratic Party (PSD) Liviu Dragnea announced in a Facebook post quoted by Mediafax.

“We change Romania for better,” Dragnea added on an electoral note.

“In just six days, 310 projects worth more than RON 2.5 billion were submitted. Most requests refer to transport, water and sewerage infrastructure, electricity networks and gas networks, including the extension of existing networks. Most projects have all the documentation prepared, including building permits or detailed estimate of the costs,” Liviu Dragnea wrote on Facebook.

The fund, with a budget of RON 5 billion (over EUR 1 billion, 0.5% of GDP) this year, is managed by the National Planning and Prognosis Committee (CNSP) under the direct supervision of the Government. The Government promised to finance, over the coming years, projects totaling EUR 10 million through this fund. The projects are analyzed on a first come, first served basis, Dragnea also promised.

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