The European Investment Bank (EIB) has granted a EUR 50 million loan to the Romanian gas transporter Transgaz to build a new pipeline in Romania, according to a press release the European Commission representation issued on Friday.

The pipeline, with a length of 478 kilometers, will connect the villages of Podisor and Recas. It is part of the gas infrastructure linking Bulgaria to Austria, passing through Romania and Hungary, also known as the BRUA pipeline.

The investment will generate thousands of jobs in the region, EC vice president Valdis Dombrovskis said.

The loan agreement was possible due to the support provided by the European Investment Fund (ESF), the central pillar of the Investment Plan for Europe. The plan is expected to mobilize EUR 240.9 billion in funds across Europe and nearly EUR 1 billion in Romania, according to data from October. About 21% of these investments are carried out in the energy sector.

editor@romania-insider.com