Last year the European Investment Bank Group provided EUR 907 million for new investments across Romania.
The EIB Group’s engagement in the country included financing for construction of two new regional hospitals, modernisation of the national electricity network to harness renewable energy and deployment of smart meters, improving energy efficiency and scaling up high-impact business investment.
“The European Investment Bank Group is working in close cooperation with Romanian partners to accelerate investment to improve key services, unlock economic opportunities and accelerate energy transition. Last year represented record EIB support for long-term health investment in Romania that will ensure better healthcare and treatment for patients in the years to come. The EIB and EIF also stepped up support for targeted business financing to ensure that Romanian entrepreneurs and companies can invest, strengthen economic resilience and tackle challenges triggered by the COVID pandemic,” said Christian Kettel Thomsen, Vice President of the European Investment Bank.
Details of the EIB Group’s activity in Romania and support for private and public investment by Romanian partners were confirmed following a three-day official visit to Bucharest by Christian Kettel Thomsen.
In Bucharest, Vice President Thomsen signed two new agreements. The first with Transelectrica will strengthen cooperation to enhance and accelerate energy network investment across Romania. The second will extended cooperation to provide project advisory support to implement transport, energy, water, environment, and health projects across the country.
Supporting Romania’s energy network and improving energy efficiency
The first ever European Investment Bank financing for Electrica, totalling EUR 210 million signed last year, will support reinforcement and modernisation of the electricity distribution grid in the country. This includes upgrading and constructing new power lines, constructing and refurbishing of power substations and installing components for network automation across Romania.
The new EIB-backed investment will connect more than 180,000 customers, increase network capacity and improve reliability and quality of electricity supply. New investments will also support advanced-metering rollout and to enable long-term integration of renewable energy generation.
The EIB also provided EUR 41 million investment in Bucharest to reduce energy use by upgrading residential buildings in Sector 2 and Sector 6. The projects arepart of the joint EIB-EU Smart Finance for Smart Buildings Initiative.
Over the last 31 years, the EIB Group has provided more than EUR 18 billion for public and private sector investment across Romania.
