Brussels, 27/01/2012 (Agence Europe) - On Thursday 26 January, the European Investment Bank (EIB) signed a memorandum of understanding with the government of Romania on technical assistance to support implementation of EU projects co-funded by the Bank in Romania.
The agreement will focus on increasing both the speed and quality of absorption of the EU Structural Funds via assistance with project management and implementation. Romania has requested this support from the EIB in view of its long-established expertise with project financing, particularly in the less developed regions that are the recipients of EU Structural Funds, in order to help strengthen Romania's capacity in terms of project implementation, as well as policy and strategy formulation, and sector and project planning.
The EIB says that it will provide support for priority projects to be financed in the 2007-2013 programming period and help to develop the capacity to manage the implementation of projects in view of the upcoming 2014-2020 programming period. This will be done in line with its mandate, the relevant EU regulations, and in coordination with its partner, the EU Commission.
A similar memorandum of understanding has been signed between Romania and the World Bank. (OL/transl.rt)