Advisory aid for Romania infrastructure financing
The work is varied but mainly covers large projects in the transport, waste, water and energy sectors. “We’re involved in various phases of the project cycle, from preparation when there is concept to be clarified, to planning and tendering, as well as managing contracts and project implementation,” explains Alexis.
The team has also played an important role in helping authorities deal with contract modifications and cost-overrun claims from contractors, triggered by a manpower shortage in the construction sector.
By analysing years of claims, as well as a large volume of supporting documentation that include contractual correspondence, technical and financial reports, detailed time programmes, construction logs and thousands of invoices, the EIB’s experts have helped the Romanian authorities lower the contractors' financial claims by 39%, on average.
Added value for Romanian infrastructure financing
As outsiders, it took some time for the Bank’s experts to win the trust and acceptance of their Romanian counterparts, but the team’s success has earned them high praise.
“Perhaps the biggest added value that the EIB has brought to us is that they’ve been able to provide teams with different backgrounds who have experience with operators and transport authorities,” says Stefan Roseanu, president of Romania’s Railway Reform Authority. “This has helped us to conduct very good feasibility studies and other types of documents. The feasibility study they helped us to prepare is now used as a reference example for the Ministry of Transport and the Ministry of European Funds to think about new, further investments in rolling stock.”
The Railway Reform Authority has also been impressed by the team’s technical expertise. “Some of the investments we are working on involve reforms, as well as new technologies and market concepts,” says Roseanu. “Without the EIB’s help, our experts would have had to spend a lot of timing learning and incorporating these new ideas into their work. It would have delayed the process a lot.”