International Finance Corporation (IFC) has intensified its support for Romanian economic agents with a record investment of USD 429 mln in the financial year 2021, respectively in the period July 2020-June 2021, to protect jobs, to save small businesses and to accelerate a green and resilient process of national economic recovery, the institution announced in a statement on Wednesday, September 29.

Investments in Romania have focused primarily on increasing the level of financial inclusion by addressing the financial needs of SMEs, promoting green initiatives to combat climate change, consolidating capital markets, and improving the resilience of systemically important banks.

IFC recently subscribed for bonds issued by Raiffeisen Bank Romania and Banca Comercială Română (BCR) worth 474 million lei (over 110 million dollars), being IFC's first investment in bonds that are expected to meet the minimum capital requirements and eligible debts (MREL) set by the EU.

Earlier, IFC announced that it had granted a 72 million euro loan to Palas Campus, led by Iulian Dascălu, for the construction of an office complex at ecological standards.

(Photo: Jhvephotos | Dreamstime.com)

andrei@romania-insider.com