The World Bank Group Board of Executive Directors today approved a Development Policy Loan (DPL) for Romania in the amount of EUR 599.1 million with a dual focus on economic and environmental sustainability, the World Bank reported on Thursday.The Romania Fiscal Management and Green Growth DPL is said to enable reforms to strengthen the country's fiscal framework, foster green and inclusive growth, and stimulate private-sector investment."Through this loan, the World Bank supports Romania's fiscal consolidation, strengthens fiscal sustainability, and increases equity of the pensions system; introduces incentives to support the decarbonization of the transport sector, where greenhouse gas emissions continue to rise; and supports the issuance of the first green bond in Romania to boost public investment," the bank says in a press statement released on Thursday.The loan also helps lay the foundations for increased private-sector participation in renewable energy and energy efficiency by introducing novel financing for green investments, measures to boost offshore wind, green hydrogen, and other renewable energy capacity, and by strengthening public-private partnership legislation. Such steps are essential for Romania to meet its commitments under the European Green Deal and achieve climate mitigation goals, particularly given the country's high vulnerability to the risks of climate change."The World Bank Group remains a steadfast partner in Romania's journey toward a more equitable and sustainable economy. This new funding reflects our confidence in Romania's capacity to integrate inclusive growth with environmental stewardship. The operation supports a package of reforms designed to create a lasting impact that boosts inclusion in Romania and contributes to global efforts to combat climate change," Anna Akhalkatsi, World Bank country director for the European Union, is quoted as saying in the statement.
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...
