The Finance Ministry posted on its web page two funding requests, with the money to be raised going to infrastructure projects.
While the public budget is sitting on a surplus of over one and a half billion euros, the Finance Ministry is looking to contract two loans, worth a total of about 315 million euros. The Ministry is now awaiting offers after posting two announcements on its website a few days ago.
According to information provided in the funding requests, the state expects offers from banks for three lines of credit worth 100 million euros, 144 million euros and 92.35 million dollars.
The funding contracted from loans will be allocated to various infrastructure projects, as the Finance Ministry itself specifies in its announcement on the Internet.
Most of the 315 million euros will go to the rehabilitation of the Bucharest-Constanta railway, which will be granted a 100 million euros. However, this amount is just an instalment and will not cover the total cost of the work.
The second project that the Finance Ministry is procuring funds from banks for, is the contract between Tarom SA and French aircraft maker Airbus, for the delivery of the first two A318-100 aeroplanes, of the four agreed under contract.
The two aeroplanes cost approximately 72.5 million euros each (the total value of the contract signed in April 2004 is of some 180 million euros, VAT exclusive), and the state will use funding from the local banks to pay Airbus.
The third most important project requiring state funding is the contract between state-run CFR Calatori (national passenger railway carrier) and the Germans at Siemens AG. The state will need about 70.66 million euros to pay for the last instalment of this contract, under which, the Germans supplied 25 Diesel locomotives.
This contract was signed for a total of 77.2 million euros in 2002.
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