Romania Takes EUR500M From EIB For Infrastructure, Eco Investment
Romanian authorities on Friday signed two deals with the European Investment Bank, for loans cumulating EUR500 million, aimed at funding the construction of a new subway line in Bucharest and environment investment at a thermal power plant.
The first loan, worth EUR465 million, will fund the construction of a subway line in Bucharest, with a length of some eight kilometers and 12 stations. Preparation works should start in the first half of next year. The 25-year loan has a six-year grace period.
The second loan, worth EUR32.65 million, will be used by state-owned electricity producer Electrocentrale Paroseni for environment investment. This contract has a 15-year maturity and a four-year grace period.
The loan agreements were signed by EIB vice-president Wilhelm Molterer and Romanian finance and transport ministers Gheorghe Ialomitianu and Anca Boagiu. State Secretary Claudiu Stafie represented the Economy Ministry in the deal.
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