The loan will be used to finance works for the rehabilitation of 94 apartment buildings in Bucharest’s 4th district, between 2012 and 2013, within a project targeting the rehabilitation of 320 apartment buildings, the bank said in a statement Friday.
Over the past two years, EIB has concluded similar financing contracts worth a total EUR195 million with local authorities in Bucharest’s 1st and 6th districts.
EIB has granted loans of nearly EUR9 billion in Romania since 1991, of which around EUR900 million target small projects developed by small- and medium-sized companies employing up to 3,000 people and projects carried out by local authorities.