Finance Ministry inks agreement with EIB to construct a metro line to the Drumul Taberei neighborhood
Finance Ministry inks agreement with EIB to construct a metro line to the Drumul Taberei neighborhood
Articol scris de Scris de Realitatea.NETRomania's Public Finance Ministry (MFP) borrowed 395 million euros from the European Investment Bank (EIB) for 25 years to construct a metro line connecting the western neighborhood Drumul Taberei with uptown Bucharest and to acquire 37 new metro trains.
The total value of the revamping process of the Bucharest underground is estimated at 883 million euros and includes the construction of the fifth artery, Drumul Taberei-Pantelimon, the Drumul Taberei-Universitate section, as well as the acquisition of 37 metro trains and the replacement of the old ones.
The project should be ready at the end of 2015.
EIB grants 45 percent of the project's value, according to the interim Finance Minister Gheorghe Pogea, who mentioned the rest of the money will come from the public budget.
The minister added the representatives of the European lender said they can assign additional amounts of money if necessary.
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