$225m infrastructure loan from World Bank

The World Bank will grant Romania a $225 million loan to fund road and rail infrastructure projects. The loan agreement was signed in Washington on Tuesday. The Transports Ministry says $150 million will be used by the National Highway and National Roads Company for construction of ringroads for Brasov, Targu-Mures, Bacau, Reghin and Medias. If sufficient financial resources are available, the loan could also be used for the construction of ringroads for Adjud and Ramnicu Sarat. Transport Minister Miron Mitrea said his institution could get funding from the European Investment Bank and European Bank for Reconstruction and Development (EBRD) for construction of other ringroads. “These projects form part of our programme to build ringroads in cities across the country. This is just one step. We are running a programme together with EBRD for Constanta, and a programme with the European Investment Bank for 21 other ringroads,” Mitrea stated. ZF