Premium
Romania is to borrow 600 million euros from the European Investment Bank (EIB) to build sections of the A7 motorway.
The government approved on Friday, through a memorandum, the negotiation of a 600 million euros financing contract between Romania and the EIB to support the A7 Romania motorway project. This is a co-financing related to the Recovery and Resilience Facility.
"The 600 million euros financing contract between Romania and the European Investment Bank is intended to support the construction of sections of the 319 km long A7 motorway (Ploiesti - Pascani sector). The total estimated value of the project is 6.7 billion euros (including VAT), with a corresponding allocation from the PNRR of 1.949 billion euros. The difference, up to the total amount, is to be covered by the state budget, the loan amounting to 600 million euros aiming at covering part of this state budget contribution," informs the Government.
The actual implementation of the investment will be ensured by the National Road Infrastructure Management Corporation (CNAIR). It is estimated that the project will be completed in 2025, says the Government. The loan drawdown date is four years from the date of signing the financing contract. The loan will be drawn in a maximum of 20 tranches, each worth at least 30 million euros.AGERPRES
