EBRD reconfirms three-year EUR 1.5 billion investment strategy for Romania

The European Bank for Reconstruction and Development’s Board of Directors (EBRD) has a new three-year strategy for Romania. Under the new strategy the bank expects a continuation of EUR 400 - 500 million annual investment over the next three years. According to the EBRD, despite signs of economic recovery in 2011, the short-term economic outlook for Romania is still shaky due to the ongoing eurozone problems and turbulence in global markets. However, the document shows that the country’s long-term growth potential is strong. Maintaining stability in the financial sector is a top priority, but the EBRD also hopes to help SMEs via dedicated credit lines and to make energy efficiency investments and contribute to the development of local capital markets. “The EBRD expects to continue to invest in Romania around EUR 400 and EUR 500 million annually over the next three years, with the overall objective to help Romania’s economy develop further,” said Jean Marc Peterschmitt, EBRD Managing Director for Central and South Eastern Europe. Supporting the growth of enterprise in Romania is a key objective for the bank. “The EBRD will encourage foreign direct investment into Romania’s corporate sector and will support local businesses, both through direct investment and via private equity funds, focusing particularly on value-added sectors such as manufacturing, agribusiness and technology,” reads a statement of the bank. Also on the EBRD's to do list is an expansion of dealings in the country’s infrastructure, by boosting commercialization, competition and private sector involvement in both transport and municipal public services. In the energy and infrastructure sectors, the bank will concentrate on enhancing Romania’s energy security and assisting with privatizations. Moreover, the bank also wants to invest in renewable energy in Romania. See the entire strategy for Romania here. The EBRD has committed some EUR 5.5 billion to several sectors of Romania’s economy since the beginning of its operations in the country, mobilizing additional investment of close to EUR 10 billion. Irina Popescu, irina.popescu@romania-insider.com (photo source: Sxc.hu)