The EIB provided funding for the construction of a new regional hospital in Craiova as well as the renovation of 26 smaller hospitals and healthcare facilities throughout Romania. It also provided funding for universities in Cluj-Napoca and Targu Mures and support for increasing road safety nationwide
European Investment Bank (EIB) is committed to assist in growth of Romania’s economy, the EIB and European Investment Fund (EIF) inked €1012 million pact for financing agreement for new projects across the nation.
The EIB support to Romanian Economy in 2022 includes financing for Country’s education, corporate investment, forestry regeneration, urban development, and health.
The EIB provided funding for the construction of a new regional hospital in Craiova as well as the renovation of 26 smaller hospitals and healthcare facilities throughout Romania. It also provided funding for universities in Cluj-Napoca and Targu Mures and support for increasing road safety nationwide.
The European Investment Advisory Center also provided advisory help to the universities and the road safety programmes. Also, the Bank provided funding through financial intermediaries to small and medium-sized businesses (SMEs) and mid-caps, funding R&D for cutting-edge powertrain technology in electric and plug-in hybrid vehicle segment.
The EIF strengthened its backing for a inclusive business climate in 2022. The InvestEU Fund’s microfinance theme saw a number of transactions with the goal of raising more than RON 1.25 billion for microentrepreneurs across Romania.
The EIF is also collaborating with the European Commission and the government of Romania to establish an InvestEU Member State compartment that will support the green transition and the competitiveness of Romanian businesses. The EIF has also begun the selection of intermediaries for the €400 million equity instrument funded under the Recovery and Resilience Facility.
Through the EU Recovery and Resilience Fund, Europe’s jointly-financed pandemic response fund, Romania is anticipated to receive up to €30 billion in grants and loans. The Romanian Resilience and Recovery Plan, which outlines the Romanian government’s goals for allocating this money, is being implemented with significant co-financing support from the EIB Group.
Since 1991, the EIB has operated in Romania, providing about €17 billion in financing for initiatives that advance the nation’s economic and financial growth.
With 109 contracts in Romania since its founding, the EIF has provided funding totalling €2.3 billion. These projects, which have so far supported more than 374 000 employments, are expected to attract around €6.2 billion in finance.