Support from EIB for drawing European funds for Romania

European Investment Bank (EIB) could grant a financing incentive of one billion euros for prefinancing and for drawing European structural funds granted to Romania until 2012, said, on September 12, in Oradea, western Romania, Eugen Teodorovici, state secretary for treasury and external public finance at the Romanian Ministry of Economy and Finance and member from Romania in the EIB steering board.
According to him, talks are held with EIB for creation of a financing incentive for the main 3 operational sectoral programmes, very big as value and impact, those for transport, environment and energy.
Teodorovici said he is confident that until the end of 2008, this financing incentive will be approved both by the government and by the board of the bank.

“I believe it will be a very sensible instrument, by which we can make payments in advance, we can receive from the bank a down payment of some 30% of this sum, out of which the Romanian party, the ministries managing European funds can ensure pre-financing of European projects, “ said the state secretary.
The support from EIB will be a very useful mechanism for a rapid absorption of European funds at national level, it is known that along with European funds worth over 20 billion euros, there must be local or national co-financing.
The sum of one billion euros can be raised if needed, Teodorovici also said.
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