EuropaWorld 17/11/2000 New EIB Lending in Eastern Europe

Long term loans totalling inn excess of EUR 600 million for investment and humanitarian projects in Eastern Europe have recently been announced by the European Investment Bank (EIB). Romania will receive EUR 397 million for national and urban transport projects including an upgraded road link between Transylvania and Moldavia, the modernisation of 60 metro trains, an extension of the Bucharest metro line, a modern passenger ticketing system for the Bucharest Transport Authority and other railway and environmental investments.

At the same time the bank announced that it would make available a further EUR 150 million in long term loan support for ongoing rehabilitation and reconstruction work in Turkey following the tragic earthquake there in August 1999.

Meanwhile the Bank is also lending EUR 60 million to Sanyo over ten years for a new factory at Dorog, northern Hungary, to produce rechargeable batteries mainly for mobile telephones in Europe.

Back to home page

Use browser back button to view more articles in this category