The Ministry of Finance will sign in October a funding contract between Romania and the European Investment Bank (EIB), worth 500 million EUR to support the works on the A1 Motorway, Sibiu-Pitesti Section.

The Government adopted a memorandum on Thursday approving the negotiation of the funding contract with the EIB.

The 500 million EUR represent the co-funding corresponding to the cohesion funds of the European Union.

„The memorandum refers to the approval of negotiation for the 500 million EUR funding contract between Romania and the EIB, in view of supporting the works of the A1 Motorway, Sibiu-Pitesti Section, as well as the signing of this contract by the Ministry of Finance. It is a funding which will be granted in tranches, maximum 10 equal tranches of 50 million EUR each. The first loan worth 500 million EUR is set to be signed in October and a second contract of similar amount could be signed in 2026,” Spokesperson for the Government Ioana Dogioiu told a news conference held at the Victoria Palace.

The fist contract will be signed in October, when EIB president will be in Bucharest and the second contract in 2026. AGERPRES