The European Investment Bank (EIB) granted Distribution Electric Energy Romania (DEER), the distribution operator within the Electrica Group, a loan worth 200 million euros to modernize its network which covers 40% of Romania's territory and serves approximately 4 million households and businesses, informs a press release from Electrica."Electrica's smarter and more resilient infrastructure will mean easier operations for the businesses it serves, better living conditions for people and, in general, a greener environment for everyone. Romania's electricity network urgently needs investment to manage the aging of the infrastructure in the context of the increase in demand for electricity", said EIB Vice President Ioannis Tsakiris, quoted in the release.The loan, which can be paid in euros or lei, will help DEER better serve its customers, improve energy efficiency and facilitate the connection of renewable energy sources."In times when we need financing for our ambitious development, the EIB's support is a clear sign to the market that we are reliable and competitive. We are also happy to contribute to Romania's and the EU's energy and climate plans", said Alexandru Chirita, general manager of Electrica.The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its member states. It finances investments that contribute to EU policy objectives. EIB projects strengthen competitiveness, stimulate innovation, promote sustainable development, strengthen social and territorial cohesion and support a fair and rapid transition to climate neutrality.The EIB Group, which also includes the European Investment Fund (EIF), has signed new financing worth a total of 88 billion euros for over 900 projects in 2023. These commitments are expected to mobilize around 320 billion euros in investments, which will support 400,000 enterprises and 5.4 million jobs.DEER serves approximately 4 million users with a coverage of 18 counties in three geographical areas for the distribution of electricity: Northern Transylvania, Southern Transylvania and Northern Muntenia. Since July 2014, Electrica S.A., the group's holding company, has been listed on the Bucharest and London Stock Exchanges.
Bucharest's culinary scene welcomes back OLEA, the JW Marriott Bucharest Grand Hotel's celebrated Mediterranean destination, now reimagined with a fresh concept that blends authentic coastal flavours with contemporary sophistication. Following an extensive transformation, OLEA reopens its doors to offer guests a refined journey through the Mediterranean's sun-drenched culinary traditions, right in the heart of Romania's […]
The far-right presidential candidate George Simion, who won the first round of the presidential elections with over 40% of the votes, said during a debate on Thursday, May 8, that Romania should copy many state policies enacted by Hungarian prime minister Viktor Orban. Simion stated during the Euronews debate that all ethnic Hungarians "must understand […]
A landmark exhibition of works by the iconic photographer and war correspondent Lee Miller has opened at The King’s House in Viscri, in central Romania’s Brașov county. Titled Lee Miller’s Romania, the exhibition is billed as “the most extensive presentation of her work ever held in the country.” Miller, the war photographer and muse of […]
Boracay’s white sandy beaches and stunning sunsets make it a top destination for travelers of all ages, including seniors looking for a relaxing getaway. While the island is known for its vibrant nightlife and water activities, it also offers many accommodations tailored to older visitors. Senior-friendly hotels in Boracay prioritize comfort, accessibility, and convenience, ensuring […]
AmCham Romania, the business association gathering 600 American, international, and Romanian companies, has called for "responsibility and dialogue, essential to prevent an irreversible decline in investor confidence in Romania." The call comes "in the context of economic turbulence built up over the years and amplified to a worrying level by the prolonged electoral period." "Romania's […]
1664 Blanc, the super-premium French beer known for its elegant taste and unforgettable style, is capturing the attention of Romanian consumers with a refreshed presence: a bold spirit that celebrates the courage to live with style and that unmistakable Oh là là — now also available in a 0.5L can. This new packaging targets the […]
