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.
TikTok has launched an Election Center dedicated to Romania's upcoming elections as part of its broader effort to protect "the integrity of the platform" and promote access to reliable information. The initiative is supported by a new media literacy campaign and ongoing collaboration with more than 20 fact-checking partners, the company said in a statement. […]
Romanian acting president Ilie Bolojan met on Friday, April 25, with a delegation from the Office for Democratic Institutions and Human Rights, or ODIHR, of the Organization for Security and Cooperation in Europe (OSCE), according to a statement from the presidential administration. The acting president told the delegation that Romania "is faithful to democratic principles […]
Shareholders of Romanian oil company OMV Petrom recently approved the distribution of record dividends amounting to RON 2.8 billion (EUR 562.6 million) for the 2024 financial year, as well as the 2025 budget, which provides for investments of RON 8.1 billion (EUR 1.6 billion). The decision was taken during the Ordinary and Extraordinary General Meetings […]
The 2025 edition of the European Film Festival (FFE), which takes place this year in Bucharest and nine other cities, will screen more than 40 feature films, 28 of which are national premieres. The festival will also present two selections of short films, also screened as national premieres. Among them are 11 documentaries, 13 films […]
Update: The Romanian Ministry of Foreign Affairs said in an official press release that the Romanian citizen was initially detained in the Abkhazia region four months ago and was later transferred to Sochi, Russia. "Steps have already been taken to provide consular protection and assistance with the central and local authorities, in accordance with international regulations," […]
Russia’s Federal Security Service, FSB, said on Friday, April 25, that it arrested a 23-year-old Romanian citizen on suspicion of spying for Ukraine by sharing the locations of Russian air defense systems. The unnamed man is accused of collecting and transmitting information about air defense sites in the Black Sea resort city of Sochi to […]
