EIB Vice President Ioannis Tsakiris: Romania benefited from EIB Group financing of 1.5% of GDP in 2024

The European Investment Bank Group, made up of the European Investment Bank (EIB) and the European Investment Fund (EIF), supported climate action, infrastructure, energy transition and SMEs in 2024, also focusing on urban development and innovation. The EIB has reaffirmed its strong commitment to Romania with new financing of EUR 2.49 billion, generating total investment of some EUR 5.27 billion, equivalent to 1.5% of Gross Domestic Product. The EIB Group finances part of a project, attracting other investors. “Investment supported” refers to the total amount invested in projects benefiting from EIB Group financing.   EIB Vice President Ioannis Tsakiris met with Romanian leaders from the Ministries of Finance, Investment and European Projects, Energy and Energy to exchange views on financing priorities and investment targets for growth. These are based on the EIB Group’s eight strategic priorities, 2024 deliverables and plans for the period ahead.   In 2024, EIB and EIF operations in Romania covered six of the strategic priorities: EU cohesion policy (108 operations – EUR 2.062 billion) climate action and sustainability (28 operations – EUR 968 million) digitization and technological innovation (13 operations – € 320 million) Capital Markets Union (4 operations – €115 million) agriculture and bio-economy (one operation – €49 million) social infrastructure (one operation – €25.2 million)   “Our investments in Romania are about and for the people: we make homes more energy efficient, industries more competitive and cities greener and better connected”, said EIB Vice-President Ioannis Tsakiris. “From cutting-edge semiconductors to cleaner transportation, stronger energy grids and vital support for businesses, universities and infrastructure, the EIB Group is shaping a more sustainable and competitive future. We remain committed to developing communities, boosting job creation and ensuring that Romania and Europe continue to be leaders in innovation and sustainable growth.”   This brings the total EIB Group financing for Romania over the last five years to EUR 9.3 billion, with an annual average of EUR 1.8 billion. In 2023, Romania was one of the largest recipients of EIB Group financing, with record financial commitments of EUR 4.1 billion.   Deputy Prime Minister, Minister of Finance, Tánczos Barna, said: “Romania appreciates the excellent cooperation with the EIB and the EIF to accelerate investments in key sectors for sustainable growth. The financial and advisory support provided by the EIB Group helps to strengthen Romania’s economic resilience and competitiveness. We will continue our strategic partnership to unlock new opportunities in the short, medium and long term, for the benefit of the country’s citizens, businesses and communities.”   Two contracts worth EUR 600 million have been signed by the EIB for the modernization of the Caransebe? – Timi?oara – Arad railway line and the electrification and rehabilitation of the Cluj-Napoca – Oradea – Episcopia Bihor line. These investments will reduce travel times, improve safety, lower transport costs and ensure better connectivity between Romania’s regions and European markets. The 330 km of railway are part of the Trans-European Core Transport Network and are co-funded by Romania and the EIB through the EU’s Recovery and Resilience Facility.   Modern infrastructure in Bucharest (2025)   The EIB signed a EUR 34 million loan with Bucharest City Hall to modernize the district heating system by replacing over 100 km of hot water pipes. This project improves energy efficiency, environmental sustainability and reduces energy losses. In addition, the JASPERS program provided technical support for the planning of the upgrades.   EIB Group activity in Romania in 2024   The EIB has financed 212 projects in Romania since 1991, with a total value in excess of EUR 21.17 billion. More than two thirds of this financing was allocated to transport, lending, energy, health and industry.   In 2024, the EIB financed: EUR 780 million for sustainable energy and natural resources EUR 673 million for urban and regional development EUR 623 million for SMEs and medium-sized companies, including in agriculture (as highlighted by EIB Group President Nadia Calviño in her opening speech at the EIB Group Forum).   Romania has received EIB support for the world’s first zero-emission tire factory through a EUR 150 million loan to Nokian Tyres in Oradea. The EIB is supporting a rapid and fair transition to green energy, upgrading grids to ensure energy independence and interconnectivity in Romania and Europe. From new wind capacity to smart and efficient electricity grids, the EIB Group is ensuring that Romania will lead the green transition.   In 2024, the EIB’s advisory department provided extensive support to public and private project promoters, helping to prepare, develop and implement EIB and EU investment projects. EIB services included financial and technical advice as well as capacity building tailored to clients’ needs. Key sectors supported included transport, higher education, health, climate change, water, waste, energy and digitization.   In concrete terms, the EIB assisted Antibiotice S.A. with growth opportunities in generic pharmaceuticals and Electrica Group with financial modeling and capacity building. For the public sector, the EIB focused on structuring the investment plans of universities, supporting the operationalization of the Investment and Development Bank, analyzing the potential demand for financing of municipal infrastructure projects that can contribute to just transition, and supporting major infrastructure projects in health, transport, environment and energy. In 2024, the EIF has committed more than EUR 820 million to Romania through venture capital, guarantees and inclusive finance operations, including funds allocated under the National Recovery and Resilience Plan mandate. The EIF launched, together with the Romanian Government, the Innovation Romania program, financed by structural funds, aimed at innovative start-up companies. (Photo:https://www.eib.org/)