The EU Bank grants loans of over EUR 1 bln in Romania in 2016

The EIB group, also known as the European Union’s bank, granted EUR 1.1 billion worth of financing in Romania, in 2016. The European Investment Bank (EIB) granted loans of EUR 1.04 billion while the European Investment Fund (EIF) executed operations in Romania totaling EUR 61 million last year. The financing was mainly focused in three areas: public infrastructure projects, small and medium-sized companies, and rehabilitation projects for Bucharest’s apartment buildings. “In addition to lending, our technical assistance helped to identify and develop projects in Romania suitable for financing. We will continue to focus in the future on investments contributing to growth and employment, accelerating the absorption of EU funds and improving Romanian citizens’ living standards,” said Andrew McDowell, vice president of the European Investment Bank. EIB granted some EUR 760 million worth of long-term co-financing for priority infrastructure projects that are set to get financing within the EU's 2014-2020 financial programme. Romania got some EUR 360 million from the EIB to finance growth-oriented investments targeting competitiveness, human capital and large-scale infrastructure, and EUR 300 million for priority environment-oriented projects in the water and municipal solid waste management sectors. The EIB maintained its support for energy efficiency investments in urban centers, lending a total of EUR 57 million to the municipalities of Bucharest Districts 2, 4 and 6. The EIB also concluded EUR 305 million worth of intermediated lending with seven EIB partner financing institutions, aimed at further improving the access to financing of Romanian SMEs. The EU bank also lent EUR 15 million to Agricover Credit IFN to help finance smaller projects implemented by SMEs in the agriculture sector. Meanwhile, the EIF committed EUR 61 million in five guarantee and five microfinance operations, aimed at raising investments worth EUR 155 million. The EIB is one of Romania’s biggest international lenders, alongside the World Bank and the European Bank for Reconstruction and Development (EBRD). editor@romania-insider.com