The Board of Directors of the European Bank for Reconstruction and Development (EBRD) has approved a new country strategy for Romania, which will guide the institution’s investments and cooperation policies in the country over the next five years. The strategy will focus on private sector competitiveness, economic resilience, and the transition to a green economy. The financial institution is a major investor in Romania, combining investments with support for reforms that improve the country’s business environment and mobilize investment from other sources. To date, the EBRD has invested over €12 billion in Romania’s economy. “Since joining the European Union in 2007, Romania has rapidly reduced historical income gaps compared to other regional states, with GDP per capita and labor productivity reaching nearly 80% of the EU average. Despite the broad economic slowdown in Europe caused by the COVID-19 pandemic and the war in Ukraine, Romania’s economy has proven resilient and contracted less than the EU average,” the statement notes. The new EBRD strategy aims to support Romania’s continued convergence with the EU while addressing remaining structural vulnerabilities. “Our new country strategy is an active response to Romania’s most pressing economic challenges. It provides a framework for targeted investments and policy engagement that can help the country overcome the immediate fiscal crisis and build a more sustainable and prosperous future,” said Victoria Zinchuk, EBRD Regional Director for Romania. EBRD is a multilateral bank that promotes private sector development and entrepreneurial initiative in 42 economies across three continents. The institution is owned by 77 countries, as well as the EU and the European Investment Bank. EBRD investments aim to transform economies in its regions into competitive, inclusive, well-governed, green, resilient, and integrated economies.
Education at AISB is stepping into the future. The American International School of Bucharest (AISB) proudly announces the launch of the Global Impact Diploma (GID), a groundbreaking academic pathway that empowers students to create real-world change while excelling in their studies. Offered at only four other schools worldwide, the GID places AISB among a pioneering […]
The largest event in the country dedicated to animation film begins in Bucharest, where the public is invited to visit a host of art galleries that are open afterhours this weekend.
South Korean ambassador Kap-soo Rim will host a reception at the Bucharest National Theater on Friday, October 3, to mark the National Foundation Day and Armed Forces Day of the Republic of Korea. The reception is also in honor of the 35th anniversary of Korea-Romania bilateral relations. In the last three years, the two countries […]
Romania has reported an outbreak of bluetongue disease in cattle in the southwest of the country, according to an announcement from the World Organisation for Animal Health made on Wednesday, October 1. There are numerous variants of the virus. Serotype 3 of the disease was detected in 10 animals from four farms and households in […]
One United Properties, one of the largest real estate developers in Romania, has begun construction work on two schools located within the One Academy Club and One Lake District developments, which will accommodate over 1,000 children. These projects benefit from an investment of approximately EUR 19 million. The developer has also already identified land for […]
Genezio, a Romanian AI startup, announced the launch of a new Conversational AI Optimization platform, a tool designed to help companies understand and improve how generative AI systems perceive and describe their brands, during the technology conference How to Web. The new tool comes as traditional digital marketing campaigns and SEO techniques no longer suffice […]
