The European Investment Bank (EIB) could finance Romanian projects worth EUR 1 billion this year, said EIB vice-president Cristian Popa. The amount would be five times higher than last year and the highest since 2009.

Last year EIB lending in Romania totaled EUR 211 million, down from EUR 590 million in 2014. Since the beginning of this year EIB has granted loans of over EUR 720 million in Romania, the highest amount since 2011.

The bank focuses on projects in the private sector. The main eligible sectors are agriculture, energy, communications, and healthcare, Popa said, cited by Bloomberg.

On Friday last week EIB representatives and Romanian state representatives signed a EUR 360 million loan contract. The money will be used to partially cover the state’s investments in increasing the EU funds absorption rate.

editor@romania-insider.com