March 20 (SeeNews) - The European Investment Bank (EIB) said that together with the European Investment Fund (EIF) it signed 1.012 billion euro ($1.082 billion) in financing for new investments across Romania in 2022, affirming the EIB Group’s commitment to supporting the country’s economy.
The EIB supported the construction of a new regional hospital in the southern city of Craiova and the reconstruction of 26 smaller hospitals and medical facilities across the country, it said in a press release last week. The bank also signed agreements for 55 million euro in financing to universities in the cities of Cluj-Napoca and Targu Mures, as well as 30 million euro to finance urban development investments in Oradea and Bucharest's second district.
Targeted support to improve road safety across Romania was also provided, with both university and road safety projects benefiting from advisory support from the European Investment Advisory Hub. In addition, the EIB unlocked 200 million euro in financing provided through financial intermediaries to small and medium-sized enterprises (SMEs) as well as mid-caps to support new investments, with a total project cost of around 560 million euro.
The EIF, part of the EIB Group, also made transactions aimed at mobilising more than 1.25 billion euro for microentrepreneurs. In addition, the EIF launched the election of intermediaries for a 400 million euro equity instrument financed under the Recovery and Resilience Facility (RRF) and is working with the European Commission and the Romanian government to set up an InvestEU member state compartment that will support the green transition and the competitiveness of Romanian companies.
The EIB Group plans to direct its future support at projects related to the energy transition, education, health, transport and inclusive growth, as well as aid the implementation of Romania’s Resilience and Recovery Plan.
Romania is expected to receive nearly 30 billion euro in grants and loans from the RRF. The EIB will work with Romanian partners to direct 4 billion euro towards nationwide transport and health investment, among other areas.
($=0.935 euro)