Romania supports a regional World Bank office in Bucharest

Romania supports the setting up of a regional World Bank office in Bucharest, said president Klaus Iohannis during meeting with Frank Heemskerk, Executive Director of the World Bank Group. The two officials discussed about the partnership between Romania and the World Bank, in the field of economic policies and corporate governance, as well as about using World Bank’s expertise to implement structural reforms and increase absorption of EU funds. World Bank is an international public institution, funded by taxpayers and owned by governments. Its explicit mandate is to increase local development in the countries where it spends its money. Starting 1991, World Bank projects in Romania have supported reforms in energy, education, infrastructure and the land market. They also supported poverty reduction, reform of the state and environmental protection, and provided support for institution building, governance reform and EU accession. Between 2010 and 2012, the World Bank projects focused on several areas, such as systemic reforms in public finances, public administration, the financial sector, education, health, social assistance, and social security. World Bank continues to finance Lidl and Kaufland expansion in Romania Romania’s largest bank gets USD 50 mln credit line from World Bank Romania gets EUR 200 mln from the World Bank to support education World Bank Group becomes Romanian Banca Transilvania’s third largest shareholder Romania signs for EUR 1 bln loans from World Bank for development policies, health editor@romania-insider.com (Photo source: presidency.ro)