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.
Cluj-based deep-tech startup .lumen, known for its AI-powered glasses for the visually impaired, has joined the EUR 7.8 million program VR Health Champions as a flagship SME. Through the VR Health Champions project, .lumen will co-develop its second-generation product, a smaller, more refined version designed for global markets, the company said. The collaboration will enable […]
DAAS Epta Romania, part of the Epta Group, has opened a new training center in Ploiești dedicated to refrigeration technicians, following an investment of more than EUR 500,000. The facility, located at the company’s headquarters, is the first of its kind established by a private company in Romania’s refrigeration industry, the company said. The DAAS […]
Greenvolt Next, part of the Greenvolt Group, said that it completed a new photovoltaic power plant integrated with a high-performance energy storage system for Abund Berry, a company in the wild berry processing industry, in Buftea, Ilfov county. The PV system, with an installed peak capacity of 512 kWp, is equipped with an advanced battery […]
Five Romanians, four men and one woman, have been sentenced to prison for raping and sexually abusing ten women, whom they drugged and sexually exploited in the city of Dundee, Scotland. The five Romanian citizens received sentences ranging between eight and twenty years in prison. The group, led by 38-year-old Marian Cumpănășoiu, drugged and abused […]
The Romanian government has amended its fiscal austerity rules to ease restrictions on spending by local authorities, Digi24 reported. The decision modifies Emergency Ordinance (OUG) 52/2025, which had previously frozen most local...
The Romanian software and IT services industry continued its growth trajectory in 2024, exceeding the EUR 17.7 billion turnover threshold, a nominal increase of over 13% y/y or EUR 2.1 billion compared to the previous year, according to data presented by Diana Şipoş, executive director of the Employers' Association of the Software and Services Industry […]
