The Board of Directors of the European Bank for Reconstruction and Development (EBRD) has approved a new strategy for Romania through 2018, focused on three directions.
“We will work to boost Romania’s private sector growth by helping to expand access to finance, with an emphasis on capital market development. With the economy rebounding, conditions are suitable for companies to enhance their competitiveness through balanced financing structures and improved management practices. The EBRD will work to reduce regional disparities by financing essential infrastructure to promote economic inclusion. We will also combine our investments with support for sector reforms and improved corporate governance in state owned enterprises,” Matteo Patrone (photo), EBRD Director for Romania stated, a press release informs on Tuesday.
For the next four years, the strategy builds on a strong history of investment in Romania and sets out three priorities: broadening access to finance by inducing lending and developing capital markets; reducing regional disparities and boosting inclusion through commercialised infrastructure; enhancing competitiveness in the private sector through targeted investment.
At the same time, EBRD predicts that Romania’s economy will grow at around 3 percent in 2015 and 3.2 percent in 2016, placing it among the fastest-growing emerging economies in south-eastern Europe.
The EBRD is a leading institutional investor in Romania with almost EUR 1.5 billion invested in 75 projects over the previous country strategy period. In total, the Bank has invested over EUR 7 billion in the country to date and has also mobilised more than EUR 14 billion from other sources of financing in all sectors of the country’s economy.