Romania secured EUR 2 billion in financing, including EUR 1 billion for the retrofitting of Cernavoda nuclear reactor (1st unit) and EUR 500 million for Transgaz projects, finance minister Alexandru Nazare announced after he participated in a ministerial visit to the United States in Washington, according to Economedia.ro.

The main message sent to investors was that Romania maintains its direction of fiscal adjustment and macroeconomic stability, essential elements for maintaining the investment-grade rating, reducing financing costs and keeping public debt under control.

The Romanian delegation had meetings with international investors and rating agencies, where recent economic developments were presented, "including the fact that the budget execution in the first quarter indicates a deficit half that of the same period last year - an important signal regarding the efficiency of fiscal consolidation measures," according to Nazare.

Meetings with investors were organised and prepared by international financial institutions such as Bank of America, HSBC, Deutsche Bank, and ING.

At meetings with major international financial institutions, concrete financing for strategic projects was discussed.

Discussions with international financial institutions had as their main objective securing financing for major energy, infrastructure, and economic development projects.

"We have secured almost EUR 1 billion for the retrofitting of Reactor 1 at the Cernavoda Nuclear Power Plant, a strategic project for Romania's energy security. Also, EUR 495 million for Transgaz projects, dedicated to the modernisation and expansion of natural gas transport networks. EUR 90 million will be available for support measures in the context of the current economic and energy crises," Nazare said in a post on his Facebook page.

Meetings with the American administration also took place to strengthen the strategic partnership.

The third important pillar of the visit was meetings with representatives of the US administration, including from the White House, the Department of Commerce, the United States Department of Energy, and the Office of Trade Representative (USTR).

iulian@romania-insider.com

(Photo source: Gov.ro)