EIB OKs EUR370M Loan To Romania For Bucharest Subway Line Construction

The European Investment Bank (EIB) approved the granting of a first tranche of EUR370 million to Romania for the construction of a subway line linking the city center to the Drumul Taberei area in the west, transport minister Radu Berceanu said Saturday.

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He added Romanian authorities want to extend the line of financing over the following years, to pay for the entire project.

"We have the EIB’s principle agreement for a EUR370 million loan,” Berceanu said, adding Romania also plans to get the rest of the funds from the EIB.

The construction of the subway mainline, to be paid entirely with foreign loans, is estimated to cost a total EUR700 million.

The new mainline connecting the city center to the west will be 9.05 kilometers long and will have 14 stops.

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