The Romanian Government on March 25 approved the signing of the contract for a EUR 250 million loan from the European Investment Bank (EIB) for the construction of the Iasi Regional Emergency Hospital in the northeastern part of the country, Economica.net reported.

The Government approved in May 2019 the technical and economic indicators for building the regional hospital in Iasi, an investment estimated at over EUR 500 million, VAT included.

The information regarding the project's financing is slightly contradictory, but the bulk of the money is expected from the European Union's budget.

In December 2018, former Social Democrat health minister Sorina Pintea said that the Romanian Government would build three regional hospitals with money from the EU budget for 2021-2027. She explained that the EU funds would cover 85% of the total costs, compared to 50% offered under the 2016-2020 EU budget.

"This loan has the role of supporting the investments until we take the money from European funds to avoid delaying the construction of this objective," said last October prime minister Florin Citu, who was finance minister at that time.

The national budget will contribute EUR 150 mln to the project, according to repeated statements of the Government officials.

The future hospital will cover an area of nearly 150,000 sqm, will have 850 beds, 19 operating rooms, and a heliport. The total project is to be ready in 84 months, while the actual construction work should be completed in 48 months.

iulian@romania-insider.com

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