The EIB loan will co-finance rural development projects supported by EU funds totalling EUR 5.4 billion across the whole of Romania
It will support the modernisation of 3,000 farms and co-finance 400 projects focused on the processing and marketing of agricultural products and 750 schemes to improve services for the rural population
The European Investment Bank (EIB) is lending EUR 450 million to Romania to finance its national contribution to the implementation of the Romanian Rural Development Programme (RDP) together with grants from the European Agricultural Fund for Rural Development in the period 2014-2020. The loan was signed on the margins of the meeting of the EIB’s Board of Directors taking place in Bucharest on 17-18 September.
EIB President Werner Hoyer commented: “The EU bank continues to support rural development in Romania. Our loan will complement EU grants and aims in particular at strengthening the competitiveness of the agriculture and forestry sectors, improving the management of natural resources and encouraging climate friendly farming. This will help boost the rural economy, generate new jobs and develop local enterprises, infrastructure, services and above all human resources via training and advisory support”.
EIB Vice-President Andrew McDowell said: “We are pleased to renew our assistance to the Romanian rural sector with this important framework loan, confirming the EIB’s commitment to support the rural economy and people of Romania.Over recent years, the European Investment Bank’s activities in Romania have continuously grown, reaching over EUR 1.3 billion worth of signatures in 2017 and increasing by 27% compared to 2016. This brings the total EIB lending volume in Romania to some EUR 3.7 billion over the past five years (2013–2017)”.
Romania’s Public Finance MinisterEugen Teodorovici stated: “The framework loan signed today is the 6th operation of this kind financed by the EIB, emphasizing not only the good cooperation between the Romania and the EIB but also the Bank’s readiness to respond to Government's priorities. The loan will partially cover the state budget contribution to a number of measures under the National Rural Development Program. Thus the investments in agriculture and rural development will boost competitiveness and improve the rural infrastructure around the country. In my capacity as President of the EIB Board of Governors and considering the up-coming Romanian Presidency of EU Council, starting with January 1st, 2019, I would like to state that Romania will promote a balanced approach regarding EIB future role as EU financial institution as well as the dialogue with all stakeholders involved in the complex debates regarding the next Multiannual Financial Framework.”
The Ministry of Agriculture and Rural Development will be the promoter of the project, while public and private entities will be the final beneficiaries of the loan signed between the EIB and the Ministry of Public Finance.
This is the second EIB operation supporting Romania’s Rural Development. The previous one, a loan of EUR 300 million for Romania’s 2007-2013 Rural Development Plan, has been fully disbursed and benefited some 900 village infrastructure projects, 4,000 famers and agri-food and forestry SMEs.
On Wednesday 16 September, in the presence of Aziz Akhannouch, the Moroccan Minister of Agriculture, Fisheries, Rural Development, Water and Forests, the EIB and CAM, represented respectively by Emma Navarro, Vice-President, and Tariq Sijilmassi, Chairman of the Management Board, signed a €200 million loan agreement to boost support for Moroccan businesses operating in the agriculture and bioeconomy sector with a particular focus on sustainable development.
Szczecin has become the second Polish town to receive a loan from the EIB to finance a municipal development plan for social and affordable housing. The EIB has agreed to lend up to PLN 85 million (approx. €20 million) to two housing companies owned by the City of Szczecin for the construction and renovation of 250 social and affordable housing units (169 new and 81 renovated) and associated underground parking facilities.
This wide-ranging collaboration between the bank of the European Union and the Lazio Region will lead to funding of €500m in all production sectors in the coming years. This is the goal of the agreements already signed or still being finalised that were announced today by Dario Scannapieco, Vice-President of the EIB, and Nicola Zingaretti, President of the Lazio Region, and which are also intended to support the post COVID-19 recovery.