Romania received the approval for a financing worth 200 million euro from the European Investment Bank (EIB), money that will be used for the modernization of the electricity distribution network, according to a press release of the financial institution . “On its way to energy independence, Romania has a huge need for investments in electricity networks, which is why, in my capacity as a member of the Board of Directors of the European Investment Bank, I am happy to announce that I have approved at the EIB a financing in the amount of 200 million euros for our country, Romania thus takes another step towards achieving its goal of having a modern, solid and efficient electricity network, in order to become, thus, an energy independent country and a stability factor in the region,” said Mihai Precup, member of the EIB’s Board of Directors. He stated that the financial institution he represents will co-finance a project that benefits from European funds and the beneficiary’s own resources. The value of the investment is 629 million euros, of which the European Investment Bank finances 200 million euros, the remaining 295 million euros from European funds, and 134 million from own sources. According to the quoted source, the EIB operation in favor of Romania refers mainly to the consolidation and renovation of Romania’s stations, substations and overhead lines in order to expand the electricity distribution capacities of its network, to facilitate the absorption and distribution of electricity from the installations generation from renewable sources and to reduce self-consumption. The objective includes elements of the Carmen 1 project, a smaller sub-component of the overall operation (approximately 10-15% of the total investment of the operation) and a European Union (EU) regional and transnational Project of Common Interest (PCI) involving networks of electricity from both Bulgaria and Hungary. Practically, the key purpose of the investment is the expansion of the connections from renewable sources to the networks and the improvement of the interconnection between the transmission and distribution networks in Romania, Bulgaria and Hungary.
Unanimously adopted, the Nordis Law marks a decisive moment for Romania’s residential market. It introduces a set of rules designed to protect buyers, hold developers accountable, and reduce speculative risks, with a strong focus on transparency and stability. Under the new legislation, the reservation fee cannot exceed 5% of the property value, reservation contracts cannot […]
Via Dobrogeana, a planned trail covering the southeastern part of the country, aims to offer travelers the opportunity to explore the region's cultural and ethnic diversity. The trail will be about 850 km long, stretching from the 17th-century Sfânta Precista Monastery in Galați to Ialomița County. Via Dobrogeana will be a mixed route. In addition […]
Police and prosecutors carried out 25 searches in Romania and Italy on Tuesday, November 18, aiming to dismantle a group made up of four families, who allegedly sexually exploited, mainly in Italy, more than 30 victims. After the searches, 19 people were detained, and two others were placed under judicial control for forming an organized […]
Deep Purple, one of the most important rock bands in the world, is set to return to Romania for a concert on October 1, 2026, at the BT Arena in Cluj-Napoca. A giant in global rock, Deep Purple is one of the most appreciated bands in the world. The group boasts five decades of chart-topping […]
Profluo, a startup that automates a company's financial processes using AI, has attracted investment from corporate venture capital fund BCR Seed Starter, Inspire Capital, and other investors in a EUR 850,000 funding round. BCR Seed Starter, which led the round, invested EUR 500,000 in Profluo. The funding will support the company's plans to scale its […]
The Romanian film “Catane,” signed by Ioana Mischie, will have its world premiere at the International Film Festival of India, held annually in Goa. This year's edition is scheduled between November 20 and 28. The Romanian-Italian comedy stars Costel Caşcaval, Iulia Lumânăre, and Cristian Bota. The first screening of the film is scheduled for November 24. […]
