EIB President highlights opportunities for strengthening urban investment across Romania

(Source: European Investment Bank)

  • Romanian mayors and MEP visit EIB headquarters for working meeting with EIB President, Vice President, financing and technical experts
  • Mayors discuss investment needs in urban development, energy efficiency, urban road safety, sustainable transport and public services
  • Unique EIB climate, financing and technical expertise offered to strengthen impact of investment across Romania

New opportunities to increase the impact of sustainable urban investment and access to dedicated financing were outlined during a visit to the Luxembourg headquarters of the European Investment Bank by a delegation of Romanian mayors and an MEP who were received by European Investment Bank President Werner Hoyer and Vice President Christian Kettel Thomsen.

The Mayors discussed plans for new investment to cut energy use, enhance urban transport, improve road safety, increase local business activity, digitaliz public services and enhance the quality of urban life in cities across Romania with financing and technical experts of the European Investment Bank.

“The EIB is committed to step up its support to Romania and specifically to Romanian municipalities as we see them one of the key drivers of green transition in the country, able to make the difference every day for their citizens’ quality of life”, said Werner Hoyer, European Investment Bank President.

“The European Investment Bank is working with cities in Romania to improve public services in the areas of water treatment, urban transport, health and education, enhance energy efficiency and better protect the environment. Today’s visit provided a valuable opportunity to hear about the upcoming urban investment priorities in Romanian cities and highlight how streamlined EIB financing and best-practice technical assistance can improve lives, services and opportunities in Romania.” said Christian Kettel Thomsen, Vice President of the European Investment Bank.

The Romanian delegation was briefed on potential EIB support to increase the impact of urban investment under the Resilience and Recovery Fund, as well as the EIB’s Solidarity Package that provides financing for Member States to address the consequences of the Ukraine war.

The EIB experts also explained how technical advisory support could support Romanian municipalities in developing a city investment plan, designing the projects, as well as strengthening the implementation phase.

Background information

The European Investment Advisory Hub (EIAH) is a partnership between the European Investment Bank Group and the European Commission under the Investment Plan for Europe. The EIAH is designed to act as a single access point to various types of advisory and technical assistance services. It supports the identification, preparation and development of investment projects across the European Union. Building on the success of the EIAH and other advisory programmes, the EIB and the European Commission agreed to continue the provision of technical, financial and strategic expertise to project promoters, regional and national authorities, private sector and financial intermediaries under the InvestEU Advisory Hub.

Project Advisory Support Service Agreement (PASSA) helps projects funded by the European Union and its objective is to accelerate project execution and speed up EU structural and investment funds absorption. The Project Advisory Support Service Agreements are flexible instruments offering tailor-made advisory to project teams and local administrations responsible for public sector investments.

The Joint Assistance for Preparing Projects in European Regions (JASPERS) is a technical assistance partnership managed by the European Investment Bank Group and co-sponsored by the European Commission (DG Regional and Urban Policy). JASPERS provides technical expertise for investments supported by European grant funds, for any stage of the project cycle from the early stages of project conception through to the final application for EU funding.

The European Investment Bank has provided more than EUR 16 billion for public and private investment across Romania since 1991, including direct financing for energy efficiency, urban development and environmental investment by Romanian towns and cities.

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