European Investment Bank invests euro 1.3 billion in Romania
The European Central Bank Group supported projects worth $ 1.3 billion from 2018 in Romania.
According to published reports, the European Investment Bank Group (EIB), which the European Investment Bank is affiliated with, paid 1.31 billion euros to Romania in 2018 to undertake loans, guarantees, equity and microfinance transactions.
However, EIB has signed a new loan agreement worth 981 million euros. EIB’s funds will support about 200,000 jobs in Romania. It will also benefit 8,800 small businesses.
Some of the EIB’s investments were initiated in 2015 under the European Investment Plan. By the end of 2018, the EIB Group approved a EUR 652 million project supported by EFSI guarantees.
EIB Vice-President Andrew McDowell commented: “2018 was a very successful year for the EIB Group in Romania. We provided well-balanced support totalling EUR 1.3 billion to the country, financing both public sector projects and – increasingly – private corporates and SMEs, often through guarantees from the Investment Plan for Europe. Almost 9,000 businesses benefited from our operations, which supported some 200,000 jobs. This year, an innovative transaction backed by the Investment Plan for Europe enabled the EIB – for the first time in the EU – to provide a loan dedicated to supporting businesses led by female entrepreneurs. In addition, we cooperate closely with Romanian authorities and companies, and deliver advisory services fostering the preparation and implementation of priority projects.”
Sevdenur Demir / [email protected]