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Add to Preferred SourcesThe EIB loan will co-finance rural development projects supported by EU funds totaling EUR 5.4 billion across the whole of Romania
It will support the modernisation of 3,000 farms and co-finance 400 projects focused on the processing and marketing of agricultural products and 750 schemes to improve services for the rural population.
The European Investment Bank (EIB) is lending EUR 450 million to Romania to finance its national contribution to the implementation of the Romanian Rural Development Programme (RDP) together with grants from the European Agricultural Fund for Rural Development in the period 2014-2020. The loan was signed on the margins of the meeting of the EIB’s Board of Directors taking place in Bucharest on 17-18 September.
EIB President Werner Hoyer commented: “The EU bank continues to support rural development in Romania. Our loan will complement EU grants and aims in particular at strengthening the competitiveness of the agriculture and forestry sectors, improving the management of natural resources and encouraging climate-friendly farming. This will help boost the rural economy, generate new jobs and develop local enterprises, infrastructure, services and above all human resources via training and advisory support”.
The Ministry of Agriculture and Rural Development will be the promoter of the project, while public and private entities will be the final beneficiaries of the loan signed between the EIB and the Ministry of Public Finance.
This is the second EIB operation supporting Romania’s Rural Development. The previous one, a loan of EUR 300 million for Romania’s 2007-2013 Rural Development Plan, has been fully disbursed and benefited some 900 village infrastructure projects, 4,000 farmers and agri-food and forestry SMEs.
Original source: EIB
Published on 17 September 2018