Romania is a key partner for the European Investment Bank (EIB) Group, as financing provided in 2024 by the lending institution for the Romanian economy amounts to EUR 2.49 billion, EIB Vice-President Ioannis Tsakiris on Thursday told a press briefing at the Finance Ministry in Bucharest.Romania is a key partner for the European Investment Bank Group. Our commitment to the country's sustainable growth and development has never been stronger, this is the message I want to convey to our partners, markets and the public, particularly in these difficult times. As you well know, 2023 was a record year for the EIB Group in Romania. Achieving this success was a challenge, but in 2024 we built on this momentum and achieved remarkable results: new financing worth EUR 2.49 billion, which led to the unlocking of total investments worth EUR 5.27 billion, boosting Romania's economy by around 1.5% of GDP, Tsakiris said.According to him, the bank's partnership with the Romanian authorities remains dynamic.Ioannis Tsakiris mentioned that he met on Thursday with Finance Minister Tanczos Barna to present him the institution's results and discuss the next steps. He is also scheduled to meet with governor of the National Bank of Romania Mugur Isarescu, and on Friday he is set to sit down with representatives of the Romanian Private Equity Association (ROPEA) to explore new business growth opportunities and get an insight of their perspectives.Sustainable mobility is another top priority, Tsakiris said, announcing two major railway modernization projects worth EUR 600 million, which will improve travel times, safety and connectivity across Romania. The projects are co-financed through the EU's Recovery and Resilience Mechanism. EIB Group is also expanding its advisory support with an agreement that will be signed on March 14 with the municipality of Ploiesti to help develop sustainable transport projects. "EIB Advisory continues to help cities develop financially viable projects that attract investment," said Tsakiris.The EIB official said that a major milestone in 2024 was the Nokian factory in Oradea, the world's first net-zero tire factory which represents a benchmark for Romania, demonstrating how innovation and sustainability can drive economic growth.We recently announced an EIB equity co-investment alongside the Copenhagen Infrastructure Partners - CIP for the Pestera II onshore wind farm project, which is included in the 2024 results. This project strengthens Romania's position in renewable energy. At the meeting with Energy Minister Sebastian Burduja, we will discuss how the EIB Group can further support Romania's energy targets. We are proud of our 2024 commitment - over EUR 780 million in financing for sustainable energy and natural resources. Beyond the numbers, our impact is real. From modernised public transport to greener energy, grid modernisation and digital transformation, EIB financing is making a real difference to people's lives. Minister Bolos recently announced that Romania has received over EUR 100 billion in transformative EU funding, said Ioannis Tsakiris.He remarked that ever since 1991, the EIB has played a key role in Romania, committing over EUR 21 billion in financing, with more than two-thirds of this amount being directed towards transport, credit lines, energy, health and industry.Looking ahead, our support will continue. The first agreements for 2025 are already underway, focusing on railway lines, municipal support and new consultancy services. I would like to thank our partners - the Romanian Government, the private sector and local authorities - for their trust. The EIB Group is here to support Romania's ambitions. Together, we are building a greener, stronger and more competitive Romania, concluded the EIB Vice-President.The press statements were attended by Secretary of State with the Finance Ministry Alin Marius Andries. (Photo:https://www.eib.org/en/media-centre/photos/our-buildings)
Rosavis Prod, a business founded in 2007 by the Vica and Constantin Mihăilă family in northeastern Romania at Roşieşti, Vaslui County, which raises 2 million chickens annually, is investing EUR 10.8 million in a feed factory, Ziarul Financiar reported. Out of this, EUR 6.5 million will come...
Telecommunications operator Digi Communications (stock symbol DIGI) has hired investment bank Rothschild to evaluate a possible listing on the Madrid stock exchange of its Spanish business, the publication Expansión wrote on September 12, citing anonymous market sources, according to Ziarul Financiar. ...
Romania’s current account (CA) deficit in rolling 12 months has narrowed for the second consecutive month to EUR 32.12 billion in July, according to the data published by the National Bank of Romania (BNR). The 12-month rolling CA gap has thus narrowed by EUR 0.5 billion from June, after it previously contracted by EUR 1.4 […]
Romania's minister of finance, Alexandru Nazare, has been on a working visit to Washington, DC, from September 11 to 13 to strengthen economic and financial dialogue with American partners and attract new investors in key sectors for Romania, such as energy, infrastructure, and technology, the Ministry of Finance announced. The agenda of the visit included […]
The minister of investments and European projects, Dragoș Pîslaru, announced on the evening of Friday, September 12, that Romania has officially submitted the renegotiated National Recovery and Resilience Plan (PNRR) to the European Commission, after which the formal approval by the Commission and then the decision of the ECOFIN Council will follow. Romania has currently […]
The main risk for Romania's macroeconomic balances rests in the budgetary area and are related to the commitment for full implementation of the first and second packages this year and in 2026 – but even under the best case scenario, the measures legislated so far would not bring the general government deficit lower than 6% […]
