The European Investment Bank (EIB) will provide financing of €250mn for the construction of a regional hospital in Romania's third-biggest city Iasi, according to an EIB statement. The project's total cost is estimated at €421mn.
The new hospital, with 850 beds, will replace the current 260-year-old Sfantul Spiridon County Emergency Hospital. It will also improve the teaching and research activity at the Grigore Popa University of Medicine and Pharmacy in Iasi.
According to the financing agreement, the loan granted by the EIB represents about 59.4% of the net cost related to the objective, and the authorities will cover the difference (€171mn, 40.6%) plus the taxes related to the project from non-reimbursable funds and the state budget.
In the coming months, EIB could approve other investments in Romanian hospitals.
The EIB is currently appraising possible financing for two other regional hospitals in Romania, in Cluj-Napoca and Craiova.
All three projects have benefitted from an advisory and technical assistance package provided by EIB experts and external consultants in the context of EU-funded programmes, including the European Investment Advisory Hub, JASPERS, and PASSA. The advisory support included the development of feasibility studies, advice on project implementation, and the optimal use of EU funds.
Related Articles
MBH Bank Tier 2 bond sale oversubscribed 3.5 times
Hungary’s MBH Bank has completed a successful €200mn Tier 2 bond issuance amid strong investor appetite. The ten-year notes, callable after five years, are priced with a 6.875% coupon following ... more
IMF says Azerbaijan’s banking sector stronger but systemic vulnerabilities persist
The International Monetary Fund (IMF) has concluded that Azerbaijan’s financial system has made considerable progress in strengthening resilience since the 2015 oil price shock and 2020 COVID-19 ... more
Azerbaijan’s banking sector assets reach AZN27.88bn with a 2.55% NPL ratio in March 2025
The Azerbaijani banking sector has demonstrated remarkable resilience and steady growth in recent years, despite global economic challenges, according to the latest central bank ... more
Most Read
-
Armenia courts African countries to supply diamond industry
17 days ago
-
Russia’s Alrosa finds its largest diamond ever, as Mirny mining operations restart
1 day ago
-
COMMENT: Embracing “Greater Central Asia” has become a strategic imperative for US
12 days ago
-
From blood diamonds to critical minerals: Sierra Leone’s mining transformation
18 days ago