EIB May Provide EUR60M For Bucharest Municipality Project To Build 60 Kindergartens

„The project involves a program for the construction of about 60 kindergartens with a total capacity of approximately 6,000 places for 4 and 5 year-old children,” the announcement says. „The project will be delivered in two phases. The first phase, of 20 new facilities, is currently well defined. The second phase will be defined and appraised by the Bank’s services in due course. The project is expected to be completed by 2015.”

The EIB plans to finance up to EUR60 million out of an estimated EUR150 million total cost.

According to the announcement, the Bank will require the Bucharest Municipality to ensure that all contracts relevant to the implementation of the project will be signed following auctions in accordance with European Union procurement legislation.

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