EBRD approves new strategy for Romania to focus on economic recovery

The Board of Directors of the European Bank for Reconstruction and Development (EBRD) approved its new strategy for Romania on April 24.

The document will guide the bank’s investments and policy engagement in the country in the next five years.

The EBRD says its work will include measures in response to the ongoing coronavirus crisis and efforts towards economic recovery by focusing on infrastructure, productivity, and the financial sector.

“The EBRD is well placed to support the modernisation of the Romanian economy, including helping the country overcome the impact of the coronavirus outbreak,” said EBRD Regional Director for Romania and Bulgaria Mark Davis.

The bank will channel investment into the areas where Romania needs the most support: building infrastructure, boosting private sector productivity, and further developing the financial sector.

The bank will focus on supporting Romanian companies to improve their competitiveness, make their products and processes more innovative, and help them adopt new technologies.

EBRD will keep supporting the sophistication and diversification in the financial sector by contributing to the development of the local capital markets and local financing solutions.

It will cooperate with banks and non-bank financial institutions to increase access to financing, including for small and medium-sized enterprises.

(Photo courtesy of EBRD)