Funding of 300 million euros for digitization, climate action and other areas of interest, financed by the National Recovery and Resilience Plan (PNRR), will be mediated by the European Investment Bank (EIB), announced on Thursday the Ministry of European Investments and Projects (MIPE).
According to a release, the financing agreement concluded by MIPE with the EIB was approved at Thursday's Government meeting. The funding of 300 million euros is part of "Investment 2 - Financial Instruments for the Private Sector", amounting to 1.25 billion euros, under component 9 of the PNRR - "Support for the Private Sector, Research, Development and Innovation", which includes a series of reforms and investments aimed at strengthening the local business environment.
The contract will be managed by the EIB, according to the fund model, the MIPE states.
The EIB will manage 300 million euros through two sub-funds, with an initial allocation of 150 million euros, as follows: Loan implemented directly by the EIB - the amount used as collateral for each loan will be set by the EIB and will not constitute more than 35% of the value of the EIB loan, with an estimated multiplier effect of at least 5.1 of the value of the allocated funds, and the loans will be granted for a maximum period of 15 years for the energy sector and a maximum of 12 years for all other sectors; EIB-brokered collateral - credit risk will be insured for each transaction, covering unpaid amounts in accordance with the loan guarantee rate granted by financial intermediaries and up to the maximum risk coverage. The guarantee rate will be set at 80%; the guarantee will be granted for a period of 15 years (or 25 years for projects implemented by municipalities). Loans to final beneficiaries with a maturity exceeding the duration of the guarantee may also be included; a multiplier effect of up to 6.25 of the value of the allocated funds is estimated.
Under the two financial instruments managed by the EIB, funds will be allocated as follows: at least 100 million euros for climate interventions; 50 million euros for digitization interventions.
According to estimates, these instruments will provide more than 25 financing for large enterprises (with more than 500 employees and / or an annual turnover of over 50 million euros), public entities (municipalities) and special purpose vehicles. The level of management fees charged by the EIB was capped at 6% of the amount allocated for the entire eligibility period.
In addition, the future revenues obtained from the management of the two financial instruments, including those from reimbursements, will be used for the granting of the same types of financing and after Romania will complete the implementation of PNRR, ie after 2026.
Romania benefits from funds amounting to 29.2 billion euros for the implementation of PNRR, of which 14.2 billion euros in the form of grants and 14.9 billion euros in the form of loans.
AGERPRES.
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