Despite the economic challenges of the COVID-19 pandemic, IFC ramped up support for Romanian companies with a record investment of $429 million in FY 2021—between July 2020 and June 2021—to protect jobs, save small businesses, and accelerate a green and resilient economic recovery in the country. IFC’s investments in Romania primarily focused on increasing financial inclusion, addressing the financing needs of small and medium enterprises (SMEs), promotingDespite the economic challenges of the COVID-19 pandemic, IFC ramped up support for Romanian companies with a record investment of $429 million in FY 2021—between July 2020 and June 2021—to protect jobs, save small businesses, and accelerate a green and resilient economic recovery in the country. IFC’s investments in Romania primarily focused on increasing financial inclusion, addressing the financing needs of small and medium enterprises (SMEs), promoting green initiatives to fight climate change, strengthening capital markets, and boosting the resilience of systemic banks. To support Romania’s recovery efforts, IFC invested RON474 million (approximately over $110 million equivalent) in bonds issued by two of the country’s systemic banks (Raiffeisen Bank S.A and Banca Comercial? Romana S.A). The bonds, expected to qualify for the Minimum Requirement for own funds and Eligible Liabilities (MREL) in line with the European Union’s Banking Recovery and Resolution Directive, are IFC’s first investments in MREL instruments—a first for the country as well. Further, IFC supported the construction of an eco-friendly information technology and communications complex in the country with approximately €72-million financing to Palas Campus, a wholly-owned subsidiary of Iulius Holding. The investment marks IFC’s first green loan to a domestic company. Also, IFC’s €42.5 million investment in the green bond issued by CTP N.V., along with a €73.5 million green loan to N.E. Property B.V., will help Romania expand its green business infrastructure while tackling climate change. To address the growth capital needs of SMEs in Romania and other countries in the region, IFC provided €60 million to three regional funds—Evolving Europe Principal Investments Fund I, BlackPeak Southeast Europe Growth Equity Fund, and LAUNCHub Fund II. The investments made through the regional funds and CTP N.V. are incremental to IFC’s $429 million total investment in the country. “In the midst of the COVID-19 crisis, we continued to invest across strategic industries in Romania with a special focus on climate change and financial inclusion,” said Wiebke Schloemer, IFC Director for Europe and Central Asia. “Our record investment in the country signals our confidence in Romania’s recovery and long-term growth path and our commitment to supporting a green recovery”. Since the outbreak of the pandemic, IFC has focused its efforts on helping the private sector mitigate the economic fallout. In March 2020, IFC announced $8 billion in global fast-track financing to help companies affected by COVID-19. In Europe and Central Asia, IFC stepped up to support its existing clients and help them address the impacts of the crisis. Cristian Nacu, IFC Senior Country Officer for Romania, said: “We are delighted to have supported Romania with a record investment amount amid COVID-19. We will continue to actively seek and fund projects to boost economic growth and job creation while helping the country achieve its green agenda.” IFC has supported private sector development in Romania for over 30 years, with a committed exposure reaching $1,025 billion as of June 2021. IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. green initiatives to fight climate change, strengthening capital markets, and boosting the resilience of systemic banks. To support Romania’s recovery efforts, IFC invested RON474 million (approximately over $110 million equivalent) in bonds issued by two of the country’s systemic banks (Raiffeisen Bank S.A and Banca Comercial? Romana S.A). The bonds, expected to qualify for the Minimum Requirement for own funds and Eligible Liabilities (MREL) in line with the European Union’s Banking Recovery and Resolution Directive, are IFC’s first investments in MREL instruments—a first for the country as well. Further, IFC supported the construction of an eco-friendly information technology and communications complex in the country with approximately €72-million financing to Palas Campus, a wholly-owned subsidiary of Iulius Holding. The investment marks IFC’s first green loan to a domestic company. Also, IFC’s €42.5 million investment in the green bond issued by CTP N.V., along with a €73.5 million green loan to N.E. Property B.V., will help Romania expand its green business infrastructure while tackling climate change. To address the growth capital needs of SMEs in Romania and other countries in the region, IFC provided €60 million to three regional funds—Evolving Europe Principal Investments Fund I, BlackPeak Southeast Europe Growth Equity Fund, and LAUNCHub Fund II. The investments made through the regional funds and CTP N.V. are incremental to IFC’s $429 million total investment in the country. “In the midst of the COVID-19 crisis, we continued to invest across strategic industries in Romania with a special focus on climate change and financial inclusion,” said Wiebke Schloemer, IFC Director for Europe and Central Asia. “Our record investment in the country signals our confidence in Romania’s recovery and long-term growth path and our commitment to supporting a green recovery”. Since the outbreak of the pandemic, IFC has focused its efforts on helping the private sector mitigate the economic fallout. In March 2020, IFC announced $8 billion in global fast-track financing to help companies affected by COVID-19. In Europe and Central Asia, IFC stepped up to support its existing clients and help them address the impacts of the crisis. Cristian Nacu, IFC Senior Country Officer for Romania, said: “We are delighted to have supported Romania with a record investment amount amid COVID-19. We will continue to actively seek and fund projects to boost economic growth and job creation while helping the country achieve its green agenda.” IFC has supported private sector development in Romania for over 30 years, with a committed exposure reaching $1,025 billion as of June 2021. IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets.
Romania has 454 casinos, which places the country right after the United States, which hosts 2,147 such places and over 600 casino hotels, B1tv.ro reported. Bucharest ranks as the second city, after Las Vegas, in terms of the number of casinos per population....
The candidate of the National Liberal Party (PNL) for Bucharest general mayor, Ciprian Ciucu, is two percentage points ahead of Daniel Băluţă, the representative of the Social Democrats (PSD) in the race, seen so far as the preferred one, according to a survey commissioned by the Liberal Party and published by Cotidianul.ro, as reported by
Romania is nearing the conclusion of a "huge USD 30 billion" investment agreement with the United States covering nuclear, hydro, natural gas, and artificial intelligence-based technologies, energy minister Bogdan Ivan announced last week, according to Ziare.com and
Romania’s minister of economy Radu Miruță said on November 3 that a share of the funds allocated to the country under the European Commission’s Security Action For Europe (SAFE) programme could be used to revitalise the Mangalia shipyard and strengthen the country’s defence and transport infrastructure,
Spanish company Telefónica is considering the acquisition of Digi Communications (BVB: DIGI) of Romania, active at home but also on the markets of Italy and Spain, in a deal that could significantly change the European telecommunications market, according to Ziarul Financiar, citing Spanish publications...
A still significant share of the foreign investors in Romania surveyed by the Foreign Investors Council (FIC), namely 40%, expect their markets to expand, while 47% expect stagnation, leaving a small share of investors undecided or pessimistic. The expectations for external demand are below average, with only 29% of those surveyed expecting higher exports and […]
