BUCHAREST, Jan. 15 (Xinhua) -- The European Bank for Reconstruction and Development (EBRD) decided to finance some 300 million euros (368 million U.S. dollars) for a metro line in the Romanian capital of Bucharest, Transport Minister Felix Stroe told a press conference on Monday.
"Today, the EBRD representatives gave us a very good piece of news. The final decision was made in London, at EBRD, for the allocation of approximately 300 million euros for the completion of the financial arrangement to the M6 metro line," Stroe said.
Late 2017, the Romanian government announced that it recently approved and sent to the European Commission the funding request of the shortage of 300 million euros for the M6 metro line that will link Bucharest to its Henri Coanda International Airport, with a total project value of almost 1.39 billion euros.
The new metro line will have a length of 14.2 km and 12 metro stations.
The M6 is currently in design phase and the environmental agreement was issued in October 2017. Transport authorities have also announced that the tender for the execution of the works could take place in early 2018.
The EBRD is a leading investor in Romania and to date has invested 7.5 billion euros in some 400 projects in the eastern European country. In 2017, the Bank has signed more than 20 projects worth a total of over 400 million euros.
Established in 1991 and headquartered in London, the EBRD is one of the world's most important financial institutions for development. It invests and operates in more than 30 countries and regions.
