The European Investment Bank (EIB) Group has committed 2.49 billion euros to support Romania’s sustainable economic development in 2024, Trend reports.

This financing is expected to unlock around 5.27 billion euros in investments, equaling approximately 1.5% of the country’s GDP. The EIB Group, which includes the EIB and the European Investment Fund (EIF), focuses on sectors such as climate action, energy transition, infrastructure, and urban sustainability.

In 2024, the EIB and EIF's operations in Romania focused on six key areas: cohesion policy (2.06 billion euros), climate action and environmental sustainability (968 million euros), digitalization and innovation (320 million euros), capital markets (115 million euros), agriculture (49 million euros), and social infrastructure (25.2 million euros).

EIB Vice-President Ioannis Tsakiris highlighted the importance of investments in energy efficiency, competitiveness, and green initiatives in Romania. Over the past five years, the EIB Group has provided 9.3 billion euros to the country, with Romania being a top beneficiary in 2023.

Notable projects include a 600 million euro investment to modernize Romania’s railway network, improving connectivity and reducing transport costs. Additionally, a 34 million euro loan was granted to Bucharest for district heating infrastructure upgrades, enhancing energy efficiency and sustainability.

Since its operations began in 1991, the EIB has invested over 21 billion euros in 212 Romanian projects, with a focus on transport, energy, health, and industry. Noteworthy initiatives include support for the world’s first zero-emissions tire factory in Oradea and investments in renewable energy and grid modernization to ensure Romania's energy independence.

In addition, the EIF has committed over 820 million euros to Romania in equity, guarantees, and finance operations, including support for early-stage innovative companies through the Innovation Romania program.