The Executive approved on Thursday, in a memorandum, the draft accord on the possibility of contracting a loan and/or a series of loans for development policies with the International Bank for Reconstruction and Development. The main areas of interes will be fiscal reform and the pension system reform, energy and transition to green economy. “Following the previous talks with IBRD, the first loan could be around 600 million euros, which will be decided while preparing the operation. The loan will be used to finance deficit and/or to refinance the public government debt and back the implementation of reform measures meant to ensure fiscal- budget sustainability. At the same time, the main areas of interest which may be the object of the Loan Program could be associated to objectives included in PNRR: fiscal reform and reform of the pension system, energy and transition to green economy,” the press release mentions. The Finance Ministry will carry out the necessary steps to request this financial assistance from IBRD, as well as crossing the other stages for contracting. “Loans granted by IBRD are competitive and more flexible than the other alternate financing instruments existing in the international market, contributing to limiting costs and extending the maturity of the public debt portfolio at an advantageous cost,” according to the press release.
Graffiti Plus (GRF+), active in Romania's communication consulting market, has signed the contract for the National Recovery and Resilience Plan (PNRR) funding for its listing on the AeRO market of the Bucharest Stock Exchange (BVB). GRF+ is also preparing to launch the private financing round it is conducting as a first step toward its debut […]
The wooden church from the village of Oncești, one of the oldest monuments in the heritage of the Maramureș Village Museum “Mihai Dăncuș” in Sighetu Marmației, has been restored. The church has now returned to the tourist circuit through the support provided by the US Ambassadors Fund for Cultural Preservation, in a project coordinated by […]
The Bucharest Stock Exchange (BVB) announced the establishment of its Corporate Governance Committee on Thursday, December 4, to support the implementation of the revised 2025 BVB Corporate Governance Code. Romania’s capital market recently celebrated 30 years of activity and is undergoing significant corporate governance reform. The revised BVB Corporate...
Daniel Băluţă, the mayor of Bucharest's District 4, signed the order to start work on the extension of the M4 subway line on Thursday, December 4. The investment is valued at EUR 3.5 billion and the route will be 11 kilometers long, between Gara de Nord and Gara Progresul railway stations. The extension will have 14 […]
Ten entrepreneurs and executives have launched Food Angels Hub, a community of investors dedicated to the food sector. The aim of the hub is to “develop and scale functional and profitable companies in the food, hospitality and food-tech sectors” and “turn Romania into a reference point for food innovation in the CEE region.” The founders […]
Romanian developer IULIUS announced that it secured a syndicated loan facility amounting to over EUR 305 million for its Palas Iași mixed-use complex. The financing is provided by a consortium made up of Erste Group Bank Austria, BCR, Raiffeisen Bank Romania, and Raiffeisen Bank International Austria. The loan will support the remodelling of Palas Iași […]
