The ministry of finances : Romania will apply all the sanctions decided at European and international level

The minister of finances, Adrian Caciu and the Romanian Association of Banks (ARB) discussed about the financing of the Romanian economy and about the protection of the citizens in the context of the conflict in Ukraine. The official stated that Romania would apply all the sanctions decided at European and international level and in collaboration with the institutions involved.   The minister of finances, Mr. Adrian Caciu and the representatives of the Romanian Association of Banks discussed on Monday, 28th February about the measures for the financing of the Romanian economy and about protection of the citizens in the context generated both by the conflict in Ukraine and the inflationist boost caused by the increase in energy and fuel prices.    ‘ Romania will apply all sanctions decided at European and international level and, in collaboration with the institutions involved, it will make sure they have immediate, firm and concrete effect. At the same time, all instruments for financing and capital must be insured so that the Romanian economy and the citizens be protected, and the development projects financed through European and national funds go on. This will be made in a partnership between the state, the economy, the citizens and the capital’ said Adrian Caciu,the minister of finances.   The banking community expressed their avalability to support the financing of the economy, to identify some solutions in the support of the citizens with loans, but for the support through specific instruments for the projects the National Plan for Recovery and Resilience and the structural programmes.   The two parts discussed about the necessity to identify mechanisms for financing through which the banking system support the development of the business environment. The banks supported the population and the companies through the pandemics, by offering financing at the most high rhythm since the previous financial crisis.   The Romanian Association of Banks assured that the banking system is solid and resilient.  ‘The objective of the banking community is the growth of the degree of financial brokerage toward the European average of 92% and the level of financial inclusion, from 67% to the European average of 95%’, stated Bogdan Neacsu, the chairman of the managing council of the Romanian Association of Banks.   Key indicators such as solvency, provisioning coverage of non-performing loans and liquidity coverage have values that position the Romanian banking system in a high stability area.    The minister of finances and the Romanian Association of Banks will continue the structured dialogue for the identification of the best measures depending on the evolution of the international situation generated by the conflict in Ukraine and the application of the decisions at European level in this context.