Romania is a key partner for the European Investment Bank (EIB) Group, as financing provided in 2024 by the lending institution for the Romanian economy amounts to EUR 2.49 billion, EIB Vice-President Ioannis Tsakiris on Thursday told a press briefing at the Finance Ministry in Bucharest.Romania is a key partner for the European Investment Bank Group. Our commitment to the country's sustainable growth and development has never been stronger, this is the message I want to convey to our partners, markets and the public, particularly in these difficult times. As you well know, 2023 was a record year for the EIB Group in Romania. Achieving this success was a challenge, but in 2024 we built on this momentum and achieved remarkable results: new financing worth EUR 2.49 billion, which led to the unlocking of total investments worth EUR 5.27 billion, boosting Romania's economy by around 1.5% of GDP, Tsakiris said.According to him, the bank's partnership with the Romanian authorities remains dynamic.Ioannis Tsakiris mentioned that he met on Thursday with Finance Minister Tanczos Barna to present him the institution's results and discuss the next steps. He is also scheduled to meet with governor of the National Bank of Romania Mugur Isarescu, and on Friday he is set to sit down with representatives of the Romanian Private Equity Association (ROPEA) to explore new business growth opportunities and get an insight of their perspectives.Sustainable mobility is another top priority, Tsakiris said, announcing two major railway modernization projects worth EUR 600 million, which will improve travel times, safety and connectivity across Romania. The projects are co-financed through the EU's Recovery and Resilience Mechanism. EIB Group is also expanding its advisory support with an agreement that will be signed on March 14 with the municipality of Ploiesti to help develop sustainable transport projects. "EIB Advisory continues to help cities develop financially viable projects that attract investment," said Tsakiris.The EIB official said that a major milestone in 2024 was the Nokian factory in Oradea, the world's first net-zero tire factory which represents a benchmark for Romania, demonstrating how innovation and sustainability can drive economic growth.We recently announced an EIB equity co-investment alongside the Copenhagen Infrastructure Partners - CIP for the Pestera II onshore wind farm project, which is included in the 2024 results. This project strengthens Romania's position in renewable energy. At the meeting with Energy Minister Sebastian Burduja, we will discuss how the EIB Group can further support Romania's energy targets. We are proud of our 2024 commitment - over EUR 780 million in financing for sustainable energy and natural resources. Beyond the numbers, our impact is real. From modernised public transport to greener energy, grid modernisation and digital transformation, EIB financing is making a real difference to people's lives. Minister Bolos recently announced that Romania has received over EUR 100 billion in transformative EU funding, said Ioannis Tsakiris.He remarked that ever since 1991, the EIB has played a key role in Romania, committing over EUR 21 billion in financing, with more than two-thirds of this amount being directed towards transport, credit lines, energy, health and industry.Looking ahead, our support will continue. The first agreements for 2025 are already underway, focusing on railway lines, municipal support and new consultancy services. I would like to thank our partners - the Romanian Government, the private sector and local authorities - for their trust. The EIB Group is here to support Romania's ambitions. Together, we are building a greener, stronger and more competitive Romania, concluded the EIB Vice-President.The press statements were attended by Secretary of State with the Finance Ministry Alin Marius Andries. (Photo:https://www.eib.org/en/media-centre/photos/our-buildings)
The Titan Heavy Machinery (Mașini Grele) industrial platform in Bucharest’s District 3 will be put up for public auction, as part of the insolvency procedure, with a starting price of EUR 16 million. The assets include a 47,286 sqm plot of land, industrial halls with a total area of 34,870 sqm, an office building (Basement […]
Railway unions in Romania criticized the government’s plans to cut costs for the national railway operator, CFR, in a press release published on Wednesday, July 23. They say that low investments in rail infrastructure have lowered the average speed at which passenger trains travel to 44 km/h, while freight trains do not exceed 17 km/h. […]
A video mapping show is scheduled to take place this Friday, July 25, at Cinema Marconi, a former cinema hall in Bucharest which has been lying in ruins for years. The building is located at the intersection of Calea Griviței and Atelierului Street, in the city's historical Buzești-Berzei area. The event, organized by the non-profit Arcen, will […]
Roughly 69% of respondents to the Voice of the Consumer 2025 survey conducted by PwC Romania use apps or smart devices, which have influenced their daily habits, with a third even stating that they have significantly changed their lifestyle. The use of health monitoring devices, such as smartwatches or glucose monitors, shows that Romanians are […]
The Oradea Pride March will take place, even though Oradea City Hall has "banned" the event, according to the organizers, the ARK Oradea Association. Oradea City Hall denied ARK’s request to hold the march, citing public works and other public gatherings on each of the 11 proposed routes. No alternative routes were proposed, but the […]
Romania and Poland stand out as the most pet-loving countries in Europe, with high percentages of ownership for both cats and dogs. Romania ranks first for cats and third for dogs, while Poland ranks second in both categories, according to an analysis by Swedish website for feline lovers Kattly, cited by Reuters. The analysis shows […]
