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.
Druid AI today announced it has secured USD 31 million in Series C financing to advance the global expansion of its enterprise-ready agentic AI platform under the leadership of its new CEO, Joseph Kim. The investment was led by Cipio Partners, with participation from TQ Ventures, Karma Ventures, Smedvig, and Hoxton Ventures. Kim has more […]
Drivers in Bucharest lose, on average, 12 working days annually due to congestion, according to Traffic Index 2025, an analysis carried out by the Institute for Visionary Cities. The index compares how much circulation slows down on working days compared to a free-flow regime, for the 41 county seat municipalities and Bucharest. According to the analysis, […]
Romania’s Senate and Chamber of Deputies held a moment of silence on Monday, September 15, for American conservative activist Charlie Kirk, who was shot dead at a university event on September 10. The marking of Kirk’s death came at the initiative of the far-right party Alliance for the Union of Romanians, or AUR. Both Kirk […]
A mountain shelter is scheduled to open this fall in the Făgăraș Mountains' Curmătura Bratilei area following a EUR 60,000 investment. The shelter, located at an altitude of 2,100 meters, is built by the private ophthalmopediatric hospital Infosan in partnership with the non-profit Carpați Mountain Association and the Brașov Emergency Situations Inspectorate (ISU Brașov). The […]
The official trailer for The Yellow Tie/Cravata Galbenă, a major international production about the life of renowned Romanian conductor Sergiu Celibidache, has been released, with the film set to hit cinemas nationwide on November 14. The cast includes John Malkovich and Miranda Richardson, both double Academy Award nominees, along with Ben Schnetzer, Kate Phillips, Sean […]
The presidential elections held in November 2024 in Romania were influenced by a large-scale hybrid war orchestrated by Russia before they were cancelled, according to general prosecutor Alex Florența. Romania’s presidential election was annulled last December after declassified reports alleged Russian involvement in cyber activities aimed at undermining the integrity...
