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)
Trade between Romania and Poland continues to grow, with annual bilateral exchanges in goods now valued at more than EUR 12 billion, according to figures presented by the Polish-Romanian Bilateral Chamber of Commerce and Industry (PRBCC). The data was released during a reception in Bucharest marking Poland’s Independence Day and Romania’s National Day. Polish investments […]
As Romania moves closer to implementing the EU Pay Transparency Directive, local employers are preparing for one of the most consequential shifts in workplace regulation in over a decade. The directive, set for transposition by June 2026, introduces strict new rules on salary disclosure, pay reporting, and equal-pay verification, aiming to close persistent gender gaps […]
A young Romanian has developed a new system that allows people to return entire bags of recyclable packaging at once, replacing the traditional method of inserting bottles one by one into reverse-vending machines. The concept, called IZI, was created by Ștefan Parascanu, who returned to Romania after studying and working in the United Kingdom. The […]
JTI, the global owner of both Winston and Camel, announced on Thursday, November 27, a plan to build a new, state-of-the-art factory in Ștefăneștii de Jos, Ilfov County. Designed to replace the current Bucharest production site, which is operating under space constraints, the facility is scheduled for completion in 2027. Ground works at the new […]
The City Hall of Oradea, in northwest Romania, has begun installing new smart parking meters as part of its ongoing modernization and digitalization of the municipal parking system. The first batch of devices has already been placed in central areas, and the entire system is expected to become operational by the end of the year. […]
Orange Romania announced the launch of the 5G+ technology in the Bucharest subway, becoming the first operator in the country to reach mobile data speeds of up to 1 Gbps in the underground network. The company has begun activating the technology in several stations and plans wider deployment in the coming weeks. The first 5G+ […]
