The European Bank for Reconstruction and Development (EBRD) delivered last year EUR 707 million in investments for 44 projects in Romania, a significant increase compared to the EUR 658 million deployed in 2023 for 23 projects, and the main focus was on supporting the country's green transition, the European lender said in a statement on Thursday."We are delighted with these strong results, a sign that, through its steadfast presence in Romania, the Bank is set to remain a key investor in the Romanian economy. The EBRD is mandated to support growth in the private sector. In Romania, the private sector share of investment was 83%, well above the average 76% of investments going to the private sector across all EBRD regions," said EBRD Head of Romania Victoria Zinchuk.The EBRD's cooperation with private corporations, equity funds, banks and local municipalities remained strong in 2024, as private sector transactions included a EUR 40 million risk sharing with Banca Transilvania for Omnia Europe SA, the launch of an EUR 10 million supply chain financing program for Profi Rom Food SRL local suppliers, EUR 10 million equity investment in local brand La Cocos, equity investment into AROBS Transilvania Software SA, and a number other debt and equity transactions.In the municipal sector, EBRD contributed EUR 75 million in regional projects. This included co-financing alongside the EU for water and wastewater investments in four counties (Bacau, Constanta, Iasi and Braila), as well as building energy efficiency projects in Craiova under the Bank's Green Cities Framework.The rise in the investment level occurred due to Romania's growing ambition to implement EU green programs, such as Fit for 55 and REPowerEU, which aim for 38% of the country's final energy consumption to come from renewable sources by 2030. The EBRD is supporting Romania in achieving this goal, both by providing financing for viable green investments, and by supporting the Romanian authorities in implementing policies that support stronger private sector participation in green energy investments.In 2024, the EBRD financed nearly 1 GW of renewable capacity in Romania. These investments, amounting to over EUR 180 million, have further mobilized almost EUR 1 billion of private and public finance.Energy sector transactions include EUR 46 million financing for the Urleasca Wind Farm, the acquisition of a stake in regional energy company Premier Energy, and a EUR 15 million loan to regional renewable energy producer Photon Energy. The EBRD also financed the Vifor onshore wind project with EUR 32 million, allocated the RON equivalent of EUR 100 million for the upgrade of electricity distribution networks, and provided a EUR 12.2 million construction bridge loan to Danube Solar Five for photovoltaic power plants in Dolj County. In addition, the EBRD provided half of a EUR 110 million financing package for the solar power plants in Iepuresti and Ghimpati.To address energy price volatility, a problem affecting the Romanian economy, the EBRD supported the design and implementation of Contracts for Difference (CfD) renewables auctions scheme, with the first tender for up to 1.5 GW successfully awarded in 2024. A Memorandum of Understanding with the Ministry of Energy was also signed in December 2024 on implementing the second RES CfD tender and on designing storage support schemes and auctions, as well as implementing reforms required to integrate storage capacities in energy markets.As a result, green economy financing amounted to 74% of the Bank's investment volume in Romania in 2024, higher than the 58% recorded across all EBRD regions. Projects signed in 2024 in Romania are expected to reduce carbon dioxide emissions by 750,000 tonnes a year.These results in Romania underpin a record year for the EBRD globally. The Bank, which operates in Central and Eastern Europe, Central Asia and the Southern and Eastern Mediterranean (SEMED) region, saw total investment increase 26 percent to EUR 16.6 billion in 2024 from the previous record of EUR 13.1 billion in 2023.
Some dinners are eaten. Others are remembered. At Corinthia Grand Hotel du Boulevard, the past few months have unfolded like a quiet culinary opera. One by one, Europe’s most celebrated chefs arrived, took over the kitchen of Boulevard 73 and left behind more than menus; they left stories. Now, on December 4, the curtain falls. […]
HORIZON CITY, a €130 million residential project, is emerging as one of the most solid and forward-thinking developments in the Pipera area—both through its scale and through the modern direction it sets for the new residential standards in the north. Developed across nearly 23,000 sqm, with 699 apartments and 926 parking spaces, the project brings […]
Romania’s National Forest Administration, or Romsilva, announced that it is putting over 16,000 Christmas trees up for sale over the winter in a press release published on Thursday, November 27. The trees can be purchased directly from the offices of the forestry districts. Prices range between RON 17 (EUR 3.3) for a spruce...
Lot 3 Pietroasele–Buzău of Romania's A7 highway, also known as the Moldova highway, was inaugurated on Thursday, November 27. The newly inaugurated segment is 13.9 km long. The A7 connects Romania’s historic regions of Muntenia, the southern part of the country, with Moldova, the eastern part. “We are opening another 13 km of the Moldova Motorway […]
The City Hall of Sinaia, a popular mountain town roughly 120 km north of Bucharest, announced that a new attraction, the alpine coaster on Pârtia Nouă, will officially open on December 1. The installation, located in the ski area near the Sinaia Gondola, features what the authorities say is the longest track of its kind […]
The Romanian national team debuted with a victory in Group A of the Women’s Handball World Championship, organized in the Netherlands and Germany. Romania won 33–24 (13–12) against Croatia in the Ahoy Arena in Rotterdam on Thursday, November 27. The Romanian team dominated the match in the second half, left backer Sorina-Maria Grozav scoring 7 […]
