Romania has asked the EIB for 4 billion euros to support health and transport investments.

Flags are seen behind the logo of the European Investment Bank in Luxembourg, Luxembourg, March 25, 2017. Reuters/Eric Vidal/File photo

BUCHAREST, Sept 26 (Reuters) – Romania has agreed to use the European Investment Bank for 4 billion euros ($3.86 billion) in transport and healthcare investment projects under the country’s EU recovery fund package, the finance ministry said on Monday.

The Eastern European country could help recover economies from the COVID-19 pandemic with less than 30 billion euros in aid and cheap loans. Brussels approved the plan and amendments last year.

“Following today’s formal request, the EIB will assess health, metro, rail and road projects and confirm that potential projects can represent 50% of climate action investment,” the bank said in a statement, adding that approval and financing would be carried out at a later date. four years.

Romania’s government will account for most of the 33.1 billion lira ($6.5 billion) in EU funds it has spent on investment projects this year, the finance ministry announced.

The country collects about 30% of GDP in fiscal revenue, well below the EU average of 46% of GDP, and spends most of it on public sector wages, pensions and subsidies.

($1 = 1.0353 EUR)

($1 = 5.1088 L)

Reporting by Luza Ely; Editing by Toby Chopra

Our standards: The Thomson Reuters Trust Principles.