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The EIB and EIF will allocate 809 million euros for Covid-19 resilience in Romania

The EIB and EIF will allocate 809 million euros for Covid-19 resilience in Romania

Investing in education, water, and energy efficiency

The European Investment Bank (EIB) and the European Investment Fund (EIF) announced new funding for Romania yesterday, 18 March 2021. 809 million euros will go to Covid-19 economic resilience, higher education funding for two universities, road safety, and new hospitals.

The EIB, EIF, and leading Romanian financial partners have agreed to provide new private-sector funding to support Romanian businesses. Finance would promote business expansion, agricultural, manufacturing, and service company leasing, as well as providing more equitable access to capital.

In support of higher education, health and local business investments

The first two loans would go in higher education with the Technical University of Cluj-Napoca and the University of Medicine and Pharmacy "Carol Davila" Bucharest. These will assist in the acceleration of strategic growth, the enhancement of research facilities, and the strengthening of education in the years ahead, all of which will support students and researchers.

The EIB plans to complete funding for the construction of three new hospitals in the coming months, including a Regional Emergency Hospital in Iasi and new regional hospitals in Craiova and Cluj-Napoca.

New projects to promote business financing and local investment are also planned, as well as long-term financing to extend and upgrade regional water infrastructure.

“The coronavirus pandemic made 2020 a uniquely challenging year for Romania, Europe and the whole world. The European Investment Bank Group has made a crucial contribution to helping businesses across Romania better withstand the economic challenges of COVID-19 and enabling priority higher education, health, water and energy investment to accelerate,” said Alexandru Nazare, Romanian Finance Minister and Governor of the European Investment Bank.

“The excellent collaboration between Romanian public and private partners and colleagues from the European Investment Bank Group, including our technical and financial experts in Bucharest, have once again delivered transformational support for economic, social and climate investment in Romania. The EUR 809 million new EIB and EIF financing agreed in 2020 will benefit thousands of companies, students and households across the country in the years ahead,” said Christian Kettel Thomsen, EIB Vice President responsible for Romania.

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