Romania's long-standing partnership with the World Bank Group continues to play an important role, especially in the current geopolitical context, which requires constant efforts for an efficient mobilisation of available resources and assistance.The latest developments in the relationship between the two entities, including the release in October 2024 of the Country Partnership Framework 2025-2029, were analysed during a meeting on Monday of the Minister of Finance, Tanczos Barna, Executive Director of the World Bank Eugene Rhuggenaath, and Country Manager for Romania Yasser El-Gammal.During the discussions, the Tanczos voiced appreciation for the constant support that the organisations of the World Bank Group grant it in promoting reforms and investments essential for Romania's development. At the same time, he said that securing balances is a key priority for strengthening resilience and increasing competitiveness, requiring sustained and coordinated efforts from the authorities."In the current difficult economic and geopolitical context, it is important to take full advantage of the new governance framework and implement it in a way as to ensure sustainable economic growth, as well as the implementation of the necessary reforms and investments. We assured the World Bank team that the 2025 budget reflects this approach and aims to comply with the commitments in the budgetary-structural plan in the medium term. We have committed to reducing the deficit to 7% in 2025 and we have built a budget that provides for record investment, with Romania continuing to be at the top of the EU states, in terms of the level of public investment - reaching 7.8% of GDP. I am convinced that the solid partnership between Romania and the World Bank will continue to help us in the process of economic development," said Tanczos.According to the Romanian Finance Ministry, the World Bank Group's flexibility and ability to react quickly to respond to specific needs is reflected in a balanced manner in the current Country Partnership Framework. It will allow, through the variety of support opportunities offered (both financially and through technical assistance), supporting Romania's priority reforms and investments, rounding up the activity of other development partners.+
Astra Film International Documentary Festival has officially opened registrations for the 2025 edition. In addition, the organizers have announced the introduction of a new competitive section this year: Short Film. This year, the festival will take place in Sibiu from October 19 to 26. Filmmakers from around the world can submit their documentaries until April […]
Soarele Moldovei. Inceputul (Moldavian Sun: The Beginning), a Romanian production presenting the childhood of 15th-century Moldavian ruler Ștefan cel Mare (Stephen the Great), is available for streaming worldwide at soarelemoldovei.ro. For every purchase of the film, produced by Razem Pictures, 5% of the price is
On the occasion of the Constantin Brâncuși National Day on February 19, the Romanian Cultural Institute (ICR) in New York will host The Brâncuși Month in New York, a series of events marking 149 years since the birth of the iconic sculptor. The program, running from February 7 to 21 at the institute's Midtown Manhattan […]
Homing Properties, a real estate developer specializing in mid- to high-end residential projects, has announced the receipt of the construction permit for its large-scale project, Homing Village. Located in the northern part of the capital, in the Pipera area, this residential complex will include 140 luxury villas and represents an investment of 35 million euros. […]
General mayor Nicușor Dan announced the public consultation of a draft decision approving the Bucharest Velo Master Plan, a strategic document aimed at developing the cycling infrastructure network over the next decade. The plan envisions a major network of 150 km of bike lanes and a secondary network of 415 km by 2035. The document […]
Lion’s Head Investments has entered the Romanian logistics market with the acquisition of a 155,000 sqm land plot in Popești-Leordeni, near Bucharest. The company, a joint venture between AG Capital and Old Mutual Property, plans to develop an 85,000 sqm logistics park on the site, with construction set to begin in the first half of […]
