The European Investment Bank (EIB) is lending EUR 15 million to support the expansion of a leading private healthcare network in Romania. This agreement is backed by the guarantee of the European Fund for Strategic Investments (EFSI).

Andrew McDowell, Vice-President of the European Investment Bank, commented: “I appreciate very much that the EIB is supporting the development of medical infrastructure in Romania, with the renovation of two hospitals, as well as improved access to high quality healthcare services, this project will create around 2,000 jobs, providing a real improvement to the quality of life of Romanian citizens. This agreement was made possible by the support of the European Fund for Strategic Investments (EFSI), the central pillar of the European Commission's Investment Plan for Europe, the so-called Juncker Plan”.

European Commissioner for Regional Policy Corina Creţu said: "The European Investment Bank is playing an important role in supporting economic growth in Romania. With the backing of the European Commission's Juncker Plan it can do even more. This agreement demonstrates the EU's strong commitment to supporting crucial social infrastructure upgrades.”

Under the Private Medical Network Expansion in Romania project, the EU bank is helping one of the leading providers in Romania, Regina Maria, to upgrade and expand its network of outpatient and inpatient facilities mainly outside the capital city. The project involves the extension and modernisation of the network through the construction and renovation of two hospitals and 15 outpatient centres, including polyclinics, laboratories and imaging centres. In addition to increasing healthcare capacity and improving the quality of medical services this project will lead to the creation of about 2,000 jobs during its operation.

Fady Chreih, the CEO of Regina Maria, commented: “Through this partnership, our mid to long-term investment strategy will receive a boost and, moreover, signal the increased confidence placed in the Regina Maria brand. In the past seven years, Regina Maria has made CAPEX investments of over EUR 70 million in expansion, modernisation and new technology acquisition. Our overarching goal is for Romanian patients to benefit from the best quality of healthcare services in the major cities of Romania. Through our facilities and strong reputation for healthcare quality at European standards, we are playing an increasingly important role in the development of the medical services sector.”