EBRD to invest EUR 400-500mn annually in Romania in next three years.

By bne IntelliNews March 21, 2012
The EBRD will invest some EUR 400-500mn in each of the coming three years in Romania, aiming to help boost its economy, the Bank said in its revised strategy for the country. The strategy focuses on the corporate sector and in particular on value-added sectors such as manufacturing, agribusiness and technology. The EBRD will also work in partnership with the government for improving the absorption of EU funds aimed at steering the involvement of the private sector in the municipal utilities sector. The Bank will develop projects that will help the financial sector stability, facilitate the financing of the real sector and particularly of small and medium-sized enterprises (SME) and facilitate the financing of energy efficiency projects. The EBRD will also contribute to the development of the local capital markets. Romania has a strong potential to converge on medium term with the EU, provided that progress can be made in structural and institutional reforms, the EBRD strategy notes. Romanias GDP per capita in PPP terms is among the lowest in the EU at just 45% of the EU average, the Bank said, adding that the short-term macroeconomic outlook is uncertain, especially in light of the renewed turmoil, both on global markets and within the eurozone.
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