EIB earmarks EUR 700-900mn for loans to Romania this year.

By bne IntelliNews March 12, 2013
The European Investment Bank can extend Romania loans worth EUR 700-900mn this year, twice as much as last year, the Bank's President Werner Hoyer said after meeting Romanian PM Victor Ponta in Bucharest on March 11, news agency Mediafax reported. The money can be used for investment projects, including projects under EU's structural and cohesion programmes. Romania's President Traian Basescu mentioned, in a separate meeting with EIB officials, three main projects that Romania would be interested in financing from EIB loans: i. the Siret-Baragan channel, aimed at irrigating the country's key farming areas at low cost, ii. the Dunare-Bucuresti channel, which will be used for transportation purposes and iii. the 1GW reversible hydropower plant Tarnita designed to accommodate the volatile renewable energy production and the excess night-time production of would-be supplementary nuclear reactors. Since 1990, the EIB has lent Romania EUR 9.3bn, out of which EUR 355mn last year alone.

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