EBRD - funding worth 500m euros in 2005

The European Bank for Reconstruction and Development granted credits worth half a billion euros to the state and to Romanian companies in 2005, reads a report of the institution. The bulk of the funding awarded by the European financial institution in Romania targeted large infrastructure projects and credits to Romanian banks, as shown by the data published in the activity report for 2005. Romania was allocated over 40% of the funding awarded by the European financial institution, totalling 500 million euros out of the 1.2 billion euros invested by the EBRD in all states in South-Eastern Europe. In 2005, 55% of the largest credits granted by the EBRD in Romania were given to the state and were directed towards urban infrastructure projects. The biggest credit granted by the EBRD in Romania was for Constanta”s City Hall, which was allocated funds to build and maintain the orbital road in 2005. The project amounts to a total 211.5 million euros, 68% of which will be covered using an ERBD credit. ZF