The European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB) and the World Bank (WB) secured EUR 42.7 billion in funding for Central and Eastern Europe (CEE) between 2013 and 2014. Romania got more than EUR 4.3 billion of this money.

At the end of 2012, the three financial institutions launched an action plan to support the CEE countries. EIB committed to contributing at least EUR 20 billion, the World Bank - EUR 6 billion and EBRD - EUR 4 billion.

The three institutions exceeded their EUR 30 billion commitment, by granting funds of EUR 42.7 billion. They supported over 770 projects in the region. The financing amounted to 1.5% of the total GDP in the CEE, according to an EIB report.

About a third of the financing went to local commercial banks, which had the possibility to grant loans to small and medium-sized enterprises. Another third went to infrastructure projects in the region, in the transport, energy and telecommunications sectors.

Romania got total financings worth EUR 4.33 billion, which made it the second biggest beneficiary of this program, after Poland, which got EUR 17.1 billion. Hungary was third, with EUR 3.43 billion.

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editor@romania-insider.com