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.
The demand for logistics and industrial spaces reached 575,000 sqm during the first 9 months of this year, a decrease of 20% compared with the same period of 2023, according to a report by real estate consulting company Cushman & Wakefield Echinox. The figures for Q3 2024 reveal that 164,000 square meters were contracted, a […]
Dutch classical music star André Rieu will return to Romania for two concerts at BTarena in Cluj-Napoca on November 13 and 14, 2025. Rieu’s concerts in Romania, where he enjoys a high degree of popularity, have set multiple attendance records. In 2015 and 2016, he performed nine sold-out shows in Bucharest’s Constitution Square for over […]
Till Lindemann, the frontman of famous German rock band Rammstein, will embark on his "Meine Welt" tour across European arenas in the fall of 2025. Among his stops he is scheduled to perform in Romania on December 4, 2025, at Romexpo in Bucharest, as announced on his official website. The "Meine Welt" tour will take […]
HR Summit, one of the most important events dedicated to the human resources industry in Transylvania, will take place under the theme Shifting Priorities: Talent, Technology, and Trust, on Friday, November 22, at Radisson Blu Hotel in Cluj-Napoca. This year's edition of HR Summit focuses on leadership, employee well-being, the introduction of innovative...
Fourteen Central and Eastern European startups (CEE) have been selected for the first edition of the Impact Creators accelerator, Impact Hub Bucharest and PurposeTech announced. The application period attracted 133 proposals from 18 countries. The startups will participate in an intensive program to accelerate their businesses, which will end with a Pitch Day. The most […]
The immersive art museum MINA Cluj will host a special event featuring Dumitru Prunariu, the only Romanian who flew in space. Scheduled for November 24, the event will give the public the opportunity to hear the stories directly from the one who represented Romania in the Soyuz 40 mission in 1981, carried out as part […]
