Romanian municipalities lose EUR 1.1 bln from EIB for water infrastructure
Romania will lose over EUR 1.1 billion from loans agreed with the European Investment Bank (EIB) as some local authorities are yet to contract the money. The deadline for contracting funds for the development of municipal water networks was August 31, 2011. The Government recently canceled the loans by a decision approved in the Thursday meeting (July 5 ).
The Government announced only the amounts that were canceled, not which local authorities failed to contract the money and were thus responsible for losing the funding.
EIB announced end 2011 that it was planning to grant some EUR 800 million loans to Romania in 2012 for the infrastructure and energy sector.
editor@romania-insider.com
(photo source: sxc.hu)
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