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.
Six men and one woman from Romania have been accused of recruiting dozens of children and adults from foster care centers, whom they then transported to Hungary, where they turned them into slaves, forcing them to work under inhumane conditions. The accused are from the localities of Ozun and Chilieni, Covasna County, Romania, and allegedly […]
The Museum of Collectivization, the first in Romania dedicated to the forced collectivization period of the communist era, is set to open a new wing, Corp B, funded through the EU-backed National Recovery and Resilience Plan (PNRR) and co-financed by the National Cultural Fund Administration (AFCN). With the new building, the museum located in Tămășeni, […]
Romania’s “Madrigal – Marin Constantin” National Chamber Choir, conducted by Anna Ungureanu, will be in Luxembourg and Belgium, as part of the “Bridges Across Europe/Punți peste Europa” European tour, where it will perform five extraordinary concerts. The performances will take place between November 20 and 25, with the help of the Ministry of Culture, the Romanian Embassy […]
The European Development Bank approved a EUR 140 million loan for Romania’s “Cultural Foundations” project, aimed at preserving historical monuments and constructing cultural buildings in the country. The project targets 14 investment objectives of national and European relevance, administered by public institutions under the Ministry of Culture, including the Romanian Athenaeum, the Romanian National Operas […]
Bucharest, November 14, 2024 – Exim Banca Romaneasca offers clients the possibility to verify the true identity of the beneficiary when initiating a payment in RON through internet or mobile banking. This is enabled by the bank’s adoption of the Beneficiary Name Display Service (SANB), which helps prevent fraud and reduces erroneous transactions caused by […]
Fifty NGOs and civic groups, along with the Bucharest Environmental Platform, have drawn up an open letter calling on Romania’s Ministry of Environment, Waters, and Forests to urgently approve the Management Plan for the Văcărești Natural Park in Bucharest. They say the plan has been pending approval for nearly a year. The non-profits noted that […]
