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CNAIR Road Maintenance



Project number:


Business sector:


Notice type:


Environmental category:


Approval date:

06 Sep 2023


Concept Reviewed

PSD disclosed:

10 Oct 2022

Project Description

Up to RON 300 million (~EUR 63 million) to Compania Nationala de Administratie a Infrastructurii Rutiere ("CNAIR" or the "Company"). The loan will finance rehabilitation/maintenance works of several national roads and related infrastructure across Romania.

Project Objectives

The proposed Project will support the Romanian transport sector through the rehabilitation of several sections of key motorways across the Country. It is expected to have a significant effect on the quality of transport services. In addition, the proposed rehabilitation works will incorporate climate adaptation elements in their design to improve the resilience of the transport network against the physical damage caused by the climate change.

Transition Impact

ETI score: 62

ETI score: 62

Transition impact stems from Resilient and Well-Governed qualities.

The Project will support the Resilience of the transport sector through more sustainable road asset-management capabilities; it will also support the Well-governed quality through improved procurement standards. Both transition objectives will be supported by technical assistance provided by Bank.

Client Information


CNAIR is a state-owned entity having the Government of Romania, through the Ministry of Transport ("MoT"), as sole shareholder. The Company manages the Romanian highway and national road network through a public service contract.

EBRD Finance Summary

RON 300,000,000.00

EUR 63,000,000.00

Up to EUR 63 million non-sovereign loan to be provided to CNAIR.

Total Project Cost

RON 300,000,000.00

EUR 63,000,000.00


Additionality sources include the following components: (i) financing structure and (ii) support to achieve higher asset management standards.

Environmental and Social Summary

Categorised B (2019 ESP) the project involves operation, maintenance and rehabilitation of highways and national roads. Key E&S risks include: occupational health and safety (for maintenance workers), traffic and road safety, labour conditions, noise and vibration, contractor management, and stakeholder engagement. The use of proceeds (long term working capital and maintenance contracts) is not directed at specific physical assets, so the Client will be required to align its corporate environmental and social management system with the PRs. Environmental and Social (E&S) due diligence is currently undertaken by an independent consultant and will include a review of the Client's E&S organisation, E&S practices and performance, and preparation of an ESAP.

This PSD will be updated based on the outcomes of the ESDD.

Technical Cooperation and Grant Financing

Total amount of EUR 650,000. Sources of funding are as follows: i) technical, financial and Environmental due diligence and procurement assistance was funded by the Shareholder's Special Fund (SSF), ii)  Procurement Enhancement Programme will be funded by an international donor or SSF iii) Asset Management Planning support will be funded by an international donor or SSF.

Company Contact Information

Ionut Masala
(+4 021) 264.34.01
(+4 021) 264.34.31
Bd. Dinicu Golescu, nr.38, sector 1, Bucuresti

PSD last updated

10 Oct 2022

Understanding Transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and the associated Performance Requirements (PRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”.  The ESP and the PRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation as well as to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about environmental and social performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD additionally requires its clients to disclose information, as appropriate, about the risks and impacts arising from projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and Compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all activities of the Bank in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.

OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, both within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to All matters reported will be handled by OCCO for follow-up. All reports, including anonymous ones, will be reviewed. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations following its entry into force on 1 January 2020. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD Enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate; how to submit a Request for review; or contact IPAM  via email to get guidance and more information on IPAM and how to submit a request.


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