In a strategic move to bolster Romania's economic resilience, the European Investment Bank has finalized guarantee agreements with Banca Comerciala Romana, Raiffeisen Bank, and UniCredit Bank under the Resilience and Recovery Fund. This €98 million commitment aims to facilitate up to €750 million in loans, enabling targeted investments in climate action and digitalization across Romania's business and municipal sectors.
Vice-President Ioannis Tsakiris of the EIB met with Romania’s political and business leaders in Bucharest to discuss collaborative efforts in economic development. The agreements underscore the EIB's commitment to supporting key national priorities through enhanced financing options and project implementation.
"These guarantees reinforce our commitment to Romania, aligning with its strategic goals for sustainable growth," stated Mr. Tsakiris. "By partnering with local banks, we aim to deliver tangible benefits to businesses and citizens alike, promoting economic stability and environmental stewardship."
The guarantees complement the EIB's substantial contributions to Romania's RRF, totaling €1.4 billion. Notably, these funds have supported major infrastructure projects such as the A3 and A7 motorways, critical for enhancing connectivity and regional development.
Romanian Minister of Finance Marcel-Ioan Boloș highlighted the collaboration's impact on national priorities, emphasizing investments in infrastructure, job creation, and sustainable practices. "Our ongoing partnership with the EIB is pivotal in advancing projects that strengthen our transport networks and promote environmental sustainability," noted Minister Boloș.
Throughout the first half of 2024, the EIB has allocated over €754 million in financing across Romania's public, corporate, and banking sectors. These investments span critical areas such as transportation, education, energy, and support for small and medium-sized enterprises (SMEs).
Reflecting on its extensive engagement, the EIB remains a cornerstone of support for Romania's development agenda. Since its inception in 1991, the EIB has committed more than €19 billion to 193 projects in Romania, focusing on sectors vital to economic growth and social progress.
As the EU's long-term lending institution, the EIB is committed to fostering competitiveness, innovation, and sustainable development. Its investments align with EU policy objectives, contributing to climate neutrality and socio-economic cohesion across member states.
Looking ahead, the EIB continues to prioritize climate and environmental sustainability, aiming to mobilize €1 trillion in investments by 2030 as part of its Climate Bank Roadmap. These efforts underscore the EIB's pivotal role in supporting inclusive growth and enhancing living standards across Europe's regions.
The EIB's comprehensive approach not only strengthens Romania's infrastructure and economic resilience but also promotes a greener, more interconnected future. By leveraging financial instruments and strategic partnerships, the EIB remains steadfast in its commitment to fostering sustainable development and prosperity within the European Union.
