Romania will get a EUR 1 billion loan from the European Investment Bank (EIB) to cover the state’s contribution for co-financing priority transport projects under the 2014-2020 Large Infrastructure Operational Programme (LIOP).

The Government approved yesterday a draft law for the framework loan contract between Romania and EIB, which was signed by EIB representatives and finance minister Ionut Misa in July this year.

The loan is granted for a period of up to 25 years, with a grace period of up to 7 years, on very advantageous terms compared to other financial instruments, according to the Government. It will be made available in up to 20 tranches until December 31, 2024.

The bill will be sent to the Parliament for debate and adoption.

editor@romania-insider.com