This year, Ford and Renault could clinch over 600 mln euros, in loans secured by Romanian state, pending for approval of EIB.

“The president and vicepresident of EIB confirmed they could provide 1 bln euro annually to Romania, money deemed as amount that the Government would use to attract funds “, said the head of the state, Traian Basescu.

Among the projects that could be the recipients of European funds are the construction of Bucharest-Ploiesti expressway and the construction of the ring roads in Bucharest and Ploiesti.

“Both funding programs are part of the projects designed to shore up the economies of EU states. The advantage of the two companies is to clinch a loan at low costs in the midst of severe market and borrowing conditions. Both companies are handling talks with European Investment Bank, the approval of the loan for Ford being scheduled for the end of April, and in the second part of the year, the institution will weigh on the loan for Renault. For Ford, the funding amounts to roughly 400 mln euros, while for Renault, 200 mln euros,” said the president Traian Basescu.

Traian Basescu added the first objective of his leave to Luxembourg was the visit to European Investment Bank, where he would meet the president, vice president and officials in charge with Eastern Europe.