In the presence of the European Bank for Reconstruction and Development (EBRD) President Sir Suma Chakrabarti and Romanian PM Dacian Cioloș, Matteo Patrone (photo), EBRD Regional Director for Romania and Bulgaria, and Emanoil Dascălu, Secretary of State at the Ministry for European Funds, have signed a framework agreement on Tuesday in Bucharest, supporting “the country’s efforts to make best use of funds allocated by the European Union for projects that aim to boost economic and social development in Romania,” a press release informs.
“The Romanian authorities will benefit from the EBRD’s expertise in ensuring that EU structural funds are used in an effective and efficient way so that they can deliver growth,” Patrone said.
EBRD will leverage international experience to support sector reforms and help advance Romania’s priorities in several important areas. These areas include infrastructure, sustainable energy, and public services, support for attracting private resources and for introducing innovative financing mechanisms.
“The EBRD stands ready to transfer its know-how in designing and implementing sustainable, commercially viable projects with an impact on the economic transformation of countries. The aim is to reinforce Romania’s capacity to absorb EU funds, advance key reforms, maximise results and stimulate growth,” EBRD Regional Director for Romania and Bulgaria added.
The assistance offered covers support to Romania in drafting sector policies and strategies as well as designing and implementing priority projects.
Alongside the European Investment Bank (EIB) and the World Bank (WB), which have signed similar agreements, EBRD will strengthen the capacity of the Romanian authorities to make full and effective use of EU Structural and Investment Funds in the 2014-2020 programming period.
Since the beginning of its operations in Romania, EBRD has invested about EUR 7 billion here, mobilising over EUR 14 billion for projects from other sources of financing.