A new IFC investment in senior bonds issued by UniCredit Bank S.A., the Romanian subsidiary of UniCredit S.p.A., representing the first tranche of the total €108 million investment approved in relation to UniCredit Bank`s Euro Medium Term Notes Programme, will expand access to green loans for small and medium enterprises (SMEs) and individuals, including women, to bolster the country’s climate finance market and support its green transition. Romania’s energy intensity remains over 60 percent higher than the EU average, even after a 30 percent reduction over the past decade. Although this presents a challenge, the country has committed to increasing its renewable energy consumption to 30.7 percent by 2030. Significant challenges remain in reducing greenhouse gas (GHG) emissions, particularly in the energy and housing sectors, which together account for a substantial portion of emissions. IFC’s investment is fully dedicated to climate finance, with half allocated to green loans for SMEs and the other half to green housing loans, including mortgages and renovation loans. At least half of the green housing loans are specifically earmarked for women. This funding is part of a broader program to strengthen Romania’s emerging climate finance market, fostering competition and encouraging replication by other banks. According to the 2023 World Bank Group Romania Country Climate and Development Report (CCDR), the country needs total investments of $356 billion to achieve net-zero emissions by 2050, with two-thirds expected to be financed by the private sector. In alignment with these projections, IFC has been actively supporting Romania’s decarbonization targets and transition to a low-carbon economy. Romania represents IFC’s largest country exposure in Europe, with a portfolio of $2.1 billion, and its ninth largest globally. IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2024, IFC committed a record $56 billion to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilizing private capital to create a world free of poverty on a livable planet.
The 16th edition of Les Films de Cannes, the festival showcasing productions awarded or selected at the Cannes film festival, returns this fall to Bucharest and four other cities in the country. The winner of this year's Palme d'Or, Jafar Panahi's It Was Just an Accident, will be screened at the event, as will be […]
Răsvan Angheluţă Natural Sciences Museum in Galaţi is scheduled to reopen on September 20, after the completion of modernization works worth over 15.1 million lei (approximately EUR 3 million) carried out by the County Council through the recovery and resilience facility PNRR. The building hosts an Aquarium, an Astronomical Observatory, a Planetarium, and temporary exhibitions. […]
A team of Romanian paramedics won first place at the World Rescue Challenge 2025, a competition that sees first responders and trauma teams from around the world develop new skills and share knowledge. This year, the competition took place in Karlovac, Croatia, and was attended by two Romanian paramedics from Bucharest who have been working […]
Artmark, one of Romania’s leading auction houses, registered record sales of over EUR 15 million despite economic instability, showing the growth potential of the national art market, according to the company’s 2024-2025 market report. Overall, auction sales totaled EUR 11 million, up 8.2% compared to the previous year, while sales through the “Dependent de Artă” […]
Cybersecurity has become a major global priority, impacting individual users, companies, organizations, and public institutions. Social engineering, deepfakes, digital manipulation, and coordinated geopolitical attacks are fundamentally reshaping how we view the digital future. In this context, DefCamp, the largest cybersecurity and hacking conference in Central and Eastern Europe, reaffirms its role as a strategic hub […]
Romanian airline AnimaWings has received its fifth Airbus aircraft, an A220-300, as part of an ambitious expansion plan to build a fleet of 18 planes by the end of 2027, valued at over USD 1 billion. The A220-300 is the airline’s third of this type and will serve both domestic and international routes. Configured with […]
