The European Investment Bank (EIB) will lend EUR 450 million to Romania to finance its national contribution to the implementation of the Rural Development Programme for 2014-2020.
The loan was signed on the margins of the EIB’s Board of Directors meeting taking place in Bucharest on September 17-18.
“The EU bank continues to support rural development in Romania. Our loan will complement EU grants and aims in particular at strengthening the competitiveness of the agriculture and forestry sectors, improving the management of natural resources and encouraging climate friendly farming. This will help boost the rural economy, generate new jobs and develop local enterprises, infrastructure, services and above all human resources via training and advisory support,” said EIB President Werner Hoyer.
The EIB loan will co-finance rural development projects supported by EU funds totaling EUR 5.4 billion across Romania. It will support the modernization of 3,000 farms and co-finance 400 projects focused on the processing and marketing of agricultural products and 750 schemes to improve services for the rural population.
In 2017, the EIB granted EUR 1.3 billion worth of loans in Romania bringing the total lending volume to EUR 3.7 billion between 2013 and 2017, according to EIB Vice-President Andrew McDowell.