RO Govt. signs memorandum for funding, advisory from EBRD for road projects
Romania's Government signed a memorandum with the European Bank for Reconstruction and Development (EBRD) for funding the Sibiu - Pitesti highway project and for a working capital loan for the public roads company CNAIR, G4media.ro…
Romania Insider · Journalist
· Updated · 1 min read
Romania's Government signed a memorandum with the European Bank for Reconstruction and Development (EBRD) for funding the Sibiu - Pitesti highway project and for a working capital loan for the public roads company CNAIR, G4media.ro reported.
EBRD will also provide technical assistance for the implementation of the Ploiesti - Brasov highway project.
The memorandum was signed last week, Romanian minister of transport Lucian Bode announced. He did not disclose the size of the financing.
It will include a bridge loan for the Sibiu - Pitesti project, to be repaid when Romania receives the funds from the European Union for this project.
It's not clear if the bridge covers the whole highway project or just the three segments that are commissioned or close to being commissioned and could be completed over the next several years.
The core segments of Sibiu - Pitesti highway raise significant technical problems, need a complete redesign of the routes, and the works are unlikely to start anytime soon.
(Photo: Pixabay)
