Romania could receive a loan of 1 billion Euros from the EIB

Romania may qualify to receive almost 1 billion Euros from the EIB (BEI). "There are currently discussions concerning the financing of ten projects, which are worth between 800 million Euros and one billion Euros", the vice-president of the EIB said Friday. He added that these projects will take place in the sectors of public transportation, of renewable and efficient energy, SMEs and industry.

Matthias Kollatz Ahnen said: "In 2010 we have seen a significant impact of the crisis, meaning that the volume of loans that were signed was far lower, of 410 million Euros. What we need to consider is the fact that an adequate level for a country such as Romania would be somewhere between 800 and 1,000 million Euros. In 2008 and 2009 we have significantly exceeded this threshold, and we are targeting again 800-1,000 million Euros".

The EIB has disbursed an amount of 870 million Euros in loans made by Romania, compared to just 469 million Euros last year.

The volume of EIB lending commitments towards Romania has increased to 3.9 billion Euros between 2006 and 2010. Out of that amount, 34% went to loans for the transport infrastructure, 21% towards industry and services and 20% to water and urban infrastructure.

The vice-president of the EIB said on Friday that the objectives are the main obstacle to the absorption of European grants. He said that the Romanian management authorities and the European Commission should make bigger efforts, or the results will not appear.

The EIB has granted a loan of 70 million Euros to finance the energy rehabilitation of the blocks of apartments of Bucharest, in order to lower their energy consumption by 50%. The EIB also granted a loan of 65 million Euros to finance the modernization and the upgrading of the Romanian electricity distribution grid, to improve the reliability and quality of the energy supply.