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The European Investment Bank provides EUR 1 bln for the construction of the A1 motorway, Pite\u015fti-Sibiu, Romania\u2019s first mountain motorway. The high-speed road that will cross the Carpathian Mountains is the country\u2019s most important road infrastructure project.<\/p>\n
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While in Romania to sign the EUR 500 mln financing agreement that accounts for the first instalment of a total package of EUR 1 bln, the bank\u2019s officers met with PM Ilie Bolojan in Bucharest. He stressed the importance of strengthening cooperation with the EIB and other European financial institutions, in close partnership with the European Commission.<\/p>\n
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The Prime Minister highlighted that, in the context of the fiscal and budgetary commitments undertaken by Romania, the bank’s support is important for the co-financing of projects already included in the national budget planning, ensuring that investments are carried on and completed.<\/p>\n
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The agreement for the first financing instalment was signed by the finance minister Alexandru Nazare. The project is estimated to amount to a total approx. EUR 5.5 bln.<\/p>\n
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With a total length of 122 km, the Pite\u015fti-Sibiu motorway is divided into five sections. The project, which is part of the central trans-European transport network and Romania\u2019s transport master plan, began in March 2020 and is estimated to be completed by the last quarter of 2028. The main goals of the investment are to increase the efficiency of the transport network and lower travel times. Another goal is to improve road safety and to better connect the regions of Romania to European transport networks.<\/p>\n
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\u201dSigning this agreement is a new proof of our commitment to supporting regional development and creating a solid basis to increase Romania’s competitiveness,\u201d the finance minister Alexandru Nazare said. He pointed out that this is a project of European importance, which will stimulate investments and generate new jobs, and the benefits will be felt directly in the economy and in the daily lives of citizens, through safer roads and faster connections.<\/p>\n
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In turn, the vice president of the European Investment Bank Ioannis Tsakiris stated that this is an investment in people, safety and opportunities that contribute to faster, safer and more accessible journeys for people and goods. The project will stimulate competitiveness and connect communities, demonstrating that European unity means sustainable prosperity and social inclusion, Ioannis Tsakiris said.<\/p>\n
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Continued financing is already being considered, and a second EUR 500 mln agreement could be signed in the first half of next year. (AMP)<\/p>\n","protected":false},"excerpt":{"rendered":"
The European Investment Bank provides EUR 1 bln for the construction of the A1 motorway, Pite\u015fti-Sibiu, Romania\u2019s first mountain motorway. The high-speed road that will cross the Carpathian Mountains is the country\u2019s most important road infrastructure project. While in Romania to sign the EUR 500 mln financing agreement that accounts for the first […]<\/p>\n","protected":false},"author":46,"featured_media":937689,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[37738],"tags":[30001,32654,31085,30027],"coauthors":[115852],"class_list":["post-937874","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-today-in-the-news","tag-eib","tag-finance","tag-funding","tag-motorway"],"acf":[],"yoast_head":"\n