Romania signed a financing accord with the World Bank for 600 million euros for development policies. The loan was conditioned by carrying out structural reforms, actions being fully carried out before negotiations, the Finance Ministry informed on Thursday. “Contracting the loan was conditioned by the adoption of reforms, grouped in two pillars: Pillar 1: strengthening fiscal management, inclusion and green public investments, which includes actions in fields like fiscal reform, pension reform, green public investments; Pillar 2: promotion of private financing for green transition, which includes actions in fields like: energy (renewable energy, offshore wind energy), transport, public-private parnership,” the press release shows. The World Bank support has a maturity of 15 years, with payback in a single instalment, on July 15, 2039. “It is important to point out that this financing, made in the best conditions which Romania could access at this moment, was conditioned by carrying out structural reforms important for the consolidation of fiscal management and improving resilience to climate changes. Our partnership with the World Bank has always been successful and is reconfirmed by its active role in backing our country's growth potential. Special thanks for Anna Akhalkatsi (WB country manager for Romania and Hungary) for the permanent professional guidance offered to Romania,”said minister Bolos. 2024 marks 32 years of partnership between World Bank Group and Romania. The active portfolio includes 13 loans of 1.7 billion euros granted to Romania. Financial assistance covers key fields such as reform of the health system, secondary education, improving judicial services, disaster risk management, consolidating infrastructure and preparing for critical emergency situations as well as preveting and reducing rural pollution.
PORR, the Austrian construction and infrastructure company, has been selected as the civil and electrical (BOP) partner The 42 6.4 MW turbines, the largest power output of any in Romania, will once again be supplied by Vestas Phase 2 construction is scheduled to begin in the autumn Rezolv Energy, backed by growth market sustainable infrastructure investor […]
This season, Olea invites guests to embrace the elegance of summer with refined exclusive experiences inspired by the JW Garden and Middle’terranean flavors. From leisurely afternoons to chic evenings under the open sky, each moment celebrates freshness and togetherness. Marking a new highlight, Olea introduces its first-ever 10 AM Party — a sophisticated take on […]
The chief prosecutor of the European Public Prosecutor’s Office, or EPPO, Laura Codruţa Kovesi, stated in an interview that the Italian and Chinese mafias may be involved in VAT fraud in Romania. The Italian mafia has already committed fraud with European funds in the country, including money from the post-pandemic Recovery and Resilience Facility, Kovesi […]
Royal FrieslandCampina N.V. has reached an agreement to sell its operations in Romania, including the local brand Napolact and the production facilities in Cluj-Napoca and Târgu Mureș, to Bonafarm Group. The decision follows a strategic review of FrieslandCampina's activities in Romania and aligns with the company's strategy of focusing "on core markets, high value-added growth […]
Romanian PM Ilie Bolojan operates outside of the legal procedures when initiating consultations on a proposal for amending the legislation on the service pensions in the field of Justice, the Romanian Superior Council of Magistracy (CSM) said in a press release on July 30. ...
Romania is currently rebuilding its bilateral relations with the United States with the aim of rejoining the Visa Waiver program after the Trump administration removed it from the list of partner countries, according to foreign minister Oana Ţoiu. During an interview given on Wednesday, July 30, the minister noted that efforts are being made for […]
