President Klaus Iohannis has signed the law that approves the framework contract for a EUR 1 billion financing from the European Investment Bank (EIB).

The money will be used for transport infrastructure projects. The framework contract was signed in July 2017 in Luxembourg. The money from EIB will cover Romania’s contribution to these projects, which will be financed with EU funds.

The loan has a period of 25 years and a grace period of up to 7 years. The Transport Ministry will be in charge with implementing this contract.

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