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.
Unilever has announced the appointment of Irina Urechean as the new General Manager of its Ice Cream Division for Romania and Moldova, effective January 2025. In her new role, Urechean will be responsible for driving the growth and development of the division, focusing on portfolio expansion, innovation, and market leadership. With a career at Unilever […]
Premier Energy Group (BVB: PE), a leading energy provider in Southeast Europe and a listed company on the Bucharest Stock Exchange reports strong growth across its operations in 2024, with preliminary figures showing normalized revenue of EUR 1,263 million, marking a 45% year-over-year increase, and normalized EBITDA of EUR 103 million, up 14% compared to […]
Cristian Măcelaru will conduct the opening concert of the anniversary edition of the George Enescu International Festival, one of the world’s most prestigious classical music events, taking place from August 24 to September 21. The Romanian conductor will lead the George Enescu Philharmonic Orchestra and Choir at the inaugural performance at Sala Palatului in Bucharest, […]
Bucharest's Știrbei Palace is set to become Romania's first high-end retail destination, with Hagag Development Europe announcing its reopening for the second half of 2025. The building on Calea Victoriei will host some of the world's most prestigious brands, the developer said. Fashion houses such as Dior, Saint Laurent, Celine, Valentino Garavani, and Hermes will […]
Interim president Ilie Bolojan said on social media that Romania is a committed and reliable ally, after US president Donald Trump halted all military aid to Ukraine on Tuesday, February 4. Trump’s decision comes after a series of meetings at the White House with top national security officials in the aftermath of the disastrous public […]
Guest writer Henry Páll Wulff shares an ample overview of the top challenges Romania is facing and the potential solutions that local policymakers should consider. A captivating read, this opinion article shows what Romania can learn from countries such as France, Germany, Denmark, Finland, Canada, Costa Rica, and Bhutan. As Romania embarks on a new […]
