Romania's Oradea borrows EUR 23 mln from EIB

The Oradea City Hall wants to borrow EUR 23 million from the European Investment Bank (EIB). It plans to co-finance five investment projects, namely to build a thermal leisure complex and to invest in infrastructure. The Oradea City Hall is currently running several investment projects worth about EUR 200 million. The local authorities applied for the 2007-2013 structural programmes to finance these programs, with a deadline in 2015. "Taking into account the short available period to finish the projects, which is by the end of 2015, the Oradea City Hall considers appropriate to contract a reimbursable financing of maximum EUR 23 million, with a 20-year maturity," reads a press release, cited by local Ziarul Financiar. editor@romania-insider.com