“The financing of projects is confronted with the investment climate and the regulatory framework, financing conditions and project management. Financing conditions are a barrier because the budgets of various countries are limited, despite the fact that the authorities want to develop transport infrastructure projects. Also, the highest hindrance remains the structure of the preparation of a project and its management because there are risks in the infrastructure construction phase. The Romanian Government has to consider the priorities related to territorial cohesion, efficiency and sustainable development within the Operational Programme Large Infrastructure (POIM) and Master Plan”, declared Mihai Frumosu, Transport Specialist PJ-Mobility Office Bucharest-European Investment Bank, at the Railway PRO Railway Technology and Services Forum, an event organised by Club Feroviar on 25-27 February at Poiana Braşov, Romania.
The EU funds for POIM are 31% for railways and 63% for roads: railway transport will get 32% funds through the Cohesion Fund, 17% through FEDR, EUR 1 Billion for TEN-T development, EUR 100 Million through Asset Development, EUR 500 Million through Urban Transport Development and EUR 2.3 Billion through CEF (37% for railways). “However, the Romanian Transport Master Plan estimates the investments necessary at 18.8 Billion. If we calculate, there is a deficit of EUR 12 Billion. This deficit could be covered from own funds, from the state budget, EIB, IFIs, such as EBRD, WB, Japanese ODA and others, but also through private financing”, explained Mihai Frumosu.