Romania borrows € 480 million from EIB to build two hospitals


BUCHAREST (Romania), May 28 (SeeNews) – The Romanian Finance Ministry announced on Friday that it had received government approval to sign two loan agreements totaling 480 million euros ($ 585 million) with the European Investment Bank (EIB) to co-finance the construction of two regional hospitals – in Craiova and Cluj.

The total net cost of the two projects is 961 million euros, the finance ministry said in a statement.

Co-financing of the projects will come from the state budget and non-reimbursable funds, while the implementation will be handled by the Ministry of Health.

The Ministry of Finance plans to sign the loan agreements with the EIB by the end of the year.

In April, the EIB announced that it had agreed to lend Romania 250 million euros for the construction of a regional emergency hospital in the city of Iasi.

The construction of three of the eight new regional hospitals planned, namely in Iasi, Cluj-Napoca and Craiova, has already been launched by the Ministry of Health and will be financed by non-reimbursable European funds. The estimated total cost of these investments is around 1.5 billion euros, the finance ministry said.

In mid-2019, the EIB signed additional Project Advisory Services Agreements (PASSA) worth € 20 million with the Romanian authorities for technical assistance for the construction of the three regional hospitals emergency.

($ = 0.8208 euro)

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