EIB Vice-President Tsakiris visits Romanian site forming central part of A1 motorway project

• EIB Vice-President Ioannis Tsakiris visits Curtea de Argeș to observe work on tunnel section of planned A1 motorway
• Site represents central part of highway being built between Pitești and Sibiu
• EIB finances strategic transport project

European Investment Bank (EIB) Vice-President Ioannis Tsakiris today visited a site near the Romanian city of Curtea de Argeș where a section of the country's first motorway across the Carpathian Mountains is being built. He observed work on a tunnel that is part of the planned A1 motorway, which is due to receive EIB financing of up to €1 billion.

The highway will span more than 122 kilometres and connect the cities of Pitești northwest of Bucharest and Sibiu in central Romania. The route runs through Curtea de Argeș, which is located in a valley in the Southern Carpathians along the Argeș River. The tunnel there will be almost 1.4 km long and have two lanes in each direction.

The A1 motorway, scheduled to be completed by 2029, will enable seamless road travel between Western Europe and the Black Sea. The project is a pillar of Romanian and European Union transport goals.

"Today's visit to Curtea de Argeș highlights both the scale and the strategic importance of this project," said Vice-President Tsakiris. "This motorway is not only a national priority but also a vital European connection that will generate long-term benefits for citizens, businesses and regions."

He visited the site with Romanian Director General for Transport and Infrastructure Felix Ardelean. They reviewed the progress of construction and discussed upcoming steps with project participants.

"This investment, delivered in close partnership with the European Investment Bank, is a defining step in strengthening Romania's position within the European transport network," said Felix Ardelean. "The Carpathian crossing has long been a missing link-these tunnels will not only improve connectivity today, but also lay the foundation for future growth, resilience and regional development."

The EIB has signed two loan tranches of €500 million each for the project, which has a total estimated cost of around €5.5 billion and is also being supported by EU grants and Romanian funding. The EIB signed the first tranche in October 2025 and the second tranche in January.

In addition to facilitating transport, the A1 motorway will enhance road safety, reduce traffic congestion, strengthen economic integration and ease environmental concerns in local communities.

The project is a flagship example of how coordinated EU and national investment can accelerate infrastructure development, bolster regional cohesion and support sustainable economic growth.

Background information

EIB Group

The European Investment Bank (ElB) Group is the financing arm of the European Union, owned by the 27 Member States, and one of the largest multilateral development banks in the world. In 2025, the EIB Group signed €100 billion of new financing and advisory services for over 870 high-impact projects in eight core priorities that support EU policy objectives: climate action and the environment, digitalisation and technological innovation, security and defence, territorial cohesion, agriculture and the bioeconomy, social infrastructure, strong global partnerships and the savings and investment union. Beyond long-term loans for large infrastructures, the EIB Group crowds-in private investment for high-risk innovative projects and businesses, with a growing role in Europe's markets for venture debt, venture capital, guarantees and securitisations.

The European Investment Fund (EIF) is the subsidiary of the EIB Group specialised in providing guarantees and equity to improve access to finance for small and medium size businesses and startups across Europe. Acting as an anchor investor, through its extensive network of partnering banks and investment funds, the EIF mobilizes private investment and nurtures the ecosystem of venture capital funds to support innovative European entrepreneurs.

In 2023, the EIF together with six member states (France, Germany, Italy, Spain, Belgium and the Netherlands) launched the European Tech Champions Initiative, a fund of funds to scale-up innovative startups. This initiative has already enabled the creation of 12 European venture capital mega-funds and scaled up 38 companies, including 11 unicorns (with more than €1 billion in capital).

Photos of the EIB Group's spokespeople and headquarters, logo files and video B-roll for media use are available here.