EIB lends EUR395 million to Romania

The Ministry of Finance and European Investment Bank have finalized negotiations for €395 million loan to support the modernization of Bucharest metro network, Line 5 Drumul Taberei - Pantelimon, section Drumul Taberei - Universitate.

The total value of the metro network modernization project is estimated at €883 million, and comprises the construction of Drumul Taberei – Pantelimon, section Drumul Taberei – Universitate as well as the acquisition of rolling stocks of 37 new subway trains that will operate on the line and replace the obsolete trains running on the existing network.

The completion date has been set for end of 2015.

“EIB provides 45% of the total value of the project, while the state will provide the rest of the money. It is the most demanded metro line in Bucharest at the moment”, said the interim minister of finance, Gheorghe Pogea.

He added that the representatives of the European Investment Bank said it would provide additional funds, if needed.

“The construction will begin as soon as possible, depending on the amount available from the state budget”, said Radu Berceanu.

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