EIB provides EUR 13 bln financing to Romania in 25 years

The European Investment Bank (EIB) has approved more than EUR 13 billion worth of financing and advisory services for Romania since it started its operations in the country 25 years ago. The biggest share of EIB lending in Romania (42%, or EUR 5.4 billion) has gone to the transport sector. It targeted the rehabilitation and modernization of railway, road and motorway networks as well as sustainable urban transport, such as the Bucharest metro. The second biggest share went to long-term financing for SMEs and midcaps (21% or EUR 2 billion), followed by energy projects (8% or EUR 1 billion). These include the construction of the Fantanele Wind Farm and a gas power plant close to Ploiesti, each financed by EIB with EUR 200 million. The EIB also approved EUR 480 million for the improvement of energy efficiency in residential buildings in Bucharest while EUR 143 million went to the rehabilitation of elementary and pre-university schools across the country. EIB granted yesterday a EUR 7.5 million loan to local GreenFiber International, for a project in the field of recycling. The project, which benefits from financing under the Juncker Plan, will contribute to the creation of 280 full-time jobs and will increase the amount of waste collected and processed by over 50,000 tonnes per year. editor@romania-insider.com