Romania received the approval for a financing worth 200 million euro from the European Investment Bank (EIB), money that will be used for the modernization of the electricity distribution network, according to a press release of the financial institution . “On its way to energy independence, Romania has a huge need for investments in electricity networks, which is why, in my capacity as a member of the Board of Directors of the European Investment Bank, I am happy to announce that I have approved at the EIB a financing in the amount of 200 million euros for our country, Romania thus takes another step towards achieving its goal of having a modern, solid and efficient electricity network, in order to become, thus, an energy independent country and a stability factor in the region,” said Mihai Precup, member of the EIB’s Board of Directors. He stated that the financial institution he represents will co-finance a project that benefits from European funds and the beneficiary’s own resources. The value of the investment is 629 million euros, of which the European Investment Bank finances 200 million euros, the remaining 295 million euros from European funds, and 134 million from own sources. According to the quoted source, the EIB operation in favor of Romania refers mainly to the consolidation and renovation of Romania’s stations, substations and overhead lines in order to expand the electricity distribution capacities of its network, to facilitate the absorption and distribution of electricity from the installations generation from renewable sources and to reduce self-consumption. The objective includes elements of the Carmen 1 project, a smaller sub-component of the overall operation (approximately 10-15% of the total investment of the operation) and a European Union (EU) regional and transnational Project of Common Interest (PCI) involving networks of electricity from both Bulgaria and Hungary. Practically, the key purpose of the investment is the expansion of the connections from renewable sources to the networks and the improvement of the interconnection between the transmission and distribution networks in Romania, Bulgaria and Hungary.
The government has officially included green belts in its 2025-2028 governing program, marking a significant step forward in the country's environmental policies, the Împreună pentru Centura Verde/Together for the Green Belt civic platform announced, further stressing the need for real progress. Its representatives have been advocating for the national adoption of green belts as a […]
The well-known bookstore chain Cărturești is set to open Romania’s largest bookstore as part of an innovative edutainment concept within the expansive RIVUS project in Cluj-Napoca. The new store, spanning 2,500 square meters over two floors, will combine a broad selection of books in Romanian, Hungarian, and English with stationery, home décor, toys, and gifts, […]
The last 18 km of the A0 southern half-ring, which circles the lower part of Bucharest, were officially opened for traffic on Monday, June 30. Authorities are hopeful that it will lead to less congestion in the city. By opening this lot, drivers will be able to completely avoid Bucharest’s Ring Road, a single-lane-per-direction road […]
Romanian prosecutors have dismantled a criminal network that helped Russians, Ukrainians, and Moldovans obtain Romanian ID cards with the help of state employees. The group secured ID cards for seven thousand foreigners over the last two years, according to investigators. The perpetrators would establish fictitious residences in Romania with the help of employees from the […]
According to a new survey conducted between June 20 and 26, six out of ten Romanians believe the country is heading in the wrong direction. The poll, conducted by INSCOP Research at the request of Informat.ro in partnership with the Strategic Thinking Group, also revealed that roughly a third of respondents...
In celebration of the Summer Solstice, JW Marriott Bucharest Grand Hotel hosted a signature Garden Party at Olea, as part of a global series of events inspired by the JW Garden and rooted in the spirit of each unique location. This marked the second garden gathering at Olea, following last year’s celebration of JW Marriott’s […]
