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. |
Romania's government has earmarked RON 163mn (EUR 37mn) worth of subsidies for 2013 under a programme aimed at closing down the loss-making mines of local company CNH located in the southwestern ... more
Romanian state-controlled hydropower company Hidroelectrica sold on Thursday, March 21, in several separate contracts a total of 0.3TWh of baseload electricity deliverable between April 1 and the ... more
The Romanian government will publish the privatisation call for freight railway company CFR Marfa immediately after the consultants complete their work, probably on April 6-8, Romanian transport ... more