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Romania to borrow 305 mln euro from EIB to build hospital in Cluj

Romania to borrow 305 mln euro from EIB to build hospital in Cluj Source: European Union External Action

BUCHAREST (Romania), January 6 (SeeNews) - Romania's finance ministry said on Thursday it has approved a 305 million euro ($345 million) loan from the European Investment Bank (EIB), to be used to co-finance the construction of a regional hospital in Cluj.

The loan represents approximately 67% of the net cost of the project, the finance ministery said in a press release.

The remaining 150.4 million euro will come from the state budget and non-reimbursable funds. The loan amount can be withdrawn in up to 30 tranches with a minimum value of 10 million euro each.

The new regional hospital in Cluj will have 744 beds in the emergency care ward and 105 beds for intensive care. The project will be completed in 2026.

This loan is the second of three which the finance ministry has agreed to take out from the European Investment Bank to finance the construction of regional emergency hospitals in Iasi, Cluj and Craiova. The total estimated cost of these investments is approximately 1.5 billion euro, the finance ministry said.

In mid-2019, the EIB signed additional Project Advisory Support Service Agreements (PASSAs) worth 20 million euro with Romanian authorities for technical assistance for the construction of the three hospitals.

($= 0.883 euro)

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