Romanian Govt Agrees EIB's Proposed Capital Hike

The Romanian Government approved in principle a hike of European Investment Bank's capital, through reducing the institution's reserves, in order to permit granting more funds to member states, the Prime Minister Emil Boc said Thursday.

"The government expressed its agreement in principle for this capital hike to be made, and together with this hike, evidently the funds available for the bank to support investments will be higher," Boc said at Bruxelles.

The Prime Minister said the capital hike is not made through a financial contributions of the member states, but through decreasing the minimum reserves of the institution and directing the available sums for investment programs.

Boc also said a EIB mission would come in Romania on March 31 to present businesspeople the bank's investment plans.

Romania's president Traian Basescu and Prime Minister Emil Boc take part Thursday and Friday at the European Council's reunion in Brussels. Prior to arriving in Brussels, the two state officials met EIB representatives in Luxembourg.

Mediafax