The European Investment Bank (EIB) provides a EUR 16 million Global Loan to BRD - Groupe Société Générale S.A. (BRD) to finance small and medium-sized projects in the field of public infrastructure in Romania.

The loan will serve for co-financing of small and medium sized projects in the areas of environmental protection, energy and energy savings as well as infrastructure.

This global loan in Romania represents already the fourth EIB loan operation with the BRD;EIB lending to this financial institution now totals EUR 100 million. BRD is one of the leading banks involved in financing municipal investment projects and intents to consolidate its position due to the benefits of this Global Loan by increasing the loan portfolio for municipalities and public services companies. BRD will benefit under the today signed global loan from the Municipal Finance Facility, a special scheme promoted by the European Commission under Phare Programme. The objective of this facility is to support the financial institutions in their efforts to extend long-term loans for the financing of small infrastructure investments undertaken by municipalities or public or private companies. It will provide BRD with incentives to extend EIB funds to municipalities.

Since 1990, the EIB has provided loans to Romania of some EUR 3.3 billion so far for projects fostering the country's integration into the EU and helping to meet EU accession criteria so Romania could join the EU as envisaged in 2007. Up to now, the Bank has signed seven global loan facilities for a total amount of EUR 182 million with six partner banks in Romania.

In the new Member States of Central and Eastern Europe and Accession Countries (Romania and Bulgaria), the EIB has lent, since 1990, more than EUR 27 billion to projects since 1990. The EIB is the most important external source of finance for Central and Eastern Europe.