Development bank in Romania could use Polish model

Romania could apply the Polish development bank BGK model to its development bank, which it will build on the Eximbank structure, said Stefan Nanu, generator director of the Treasury Department within the Finance Ministry, cited by local Agerpres. In September last year, EU Funds Minister Eugen Teodorovici said that one of Romania’s two state-owned banks, CEC Bank or Eximbank, will become a development bank and will help the state provide co-financing for projects financed by European funds. A delegation of members of Eximbank, Finance Ministry, and European Funds Ministry recently visited the state development bank of Poland BGK. During a meeting this week, Government representatives decided that the new development bank will be built on Eximbank’s structure. Nanu said that the Government has chosen Eximbank as the state has a RON 1.5 billion (EUR 338 million) venture capital there, which can be used for lending. editor@romania-insider.com