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.
Hungarian filmmaker Béla Tarr (in opening photo) is one of the guests of this year’s Transilvania International Film Festival (TIFF), which is currently taking place in Cluj-Napoca. He will receive a Lifetime Achievement Award at the TIFF Awards Gala. Until then, audiences will have the chance to meet him at the cinema and attend a […]
With a continued commitment to innovation, sustainability, and affordability, Auchan Romania has received three major distinctions at the “Voted Product of the Year 2025” competition – the most prestigious recognition platform for innovation and performance among products, brands, and retail networks in Romania. In addition to being named Retailer of the Year in the Hypermarket […]
Roughly 72% of Romanians believe that their own actions have the greatest impact in building a sustainable future. At the same time, they acknowledge the essential role of companies (68%) and governments (66%) in achieving sustainability goals, according to the fourth annual edition of the National Barometer on Romanians' perceptions and behaviors related to sustainability […]
Contakt, a Romanian mobile accessories retailer operating a nationwide network of 245 stores, has announced plans to list on the AeRO market of the Bucharest Stock Exchange this fall. Roughly 10% of the company’s share capital will be made available to investors during the IPO, with a gradual increase in free float to 30-40% forthcoming. […]
Wizz Air will reopen its base in Suceava, in northeastern Romania, where it will allocate two Airbus A321neo aircraft. With these, the airline will operate a total of 43 aircraft during the winter season in Romania. Wizz Air will also introduce eight routes from Suceava starting in December. Passengers will be able to fly from […]
A new legislative proposal is currently being developed regarding end-of-life care, according to doctor Cătălina Poiană, president of the Romanian College of Physicians. It would be a first for the Romanian medical system. Dr. Poiană specified that the document has been worked on by representatives of the Romanian Society of Anaesthesia and Intensive Care (SRATI), […]
