Romanian – American Fund to finance local development programs

The US Government has pledged USD 150 million for the Romanian – American Foundation (RAF), a project which will support entrepreneurship, education and community development programs in Romania. RAF will be funded from the gains in the investment portfolio of the Romanian – American Enterprise Fund (RAEF), which has been active for the last 15 years in Romania. RAF is looking however at raising additional funding. For the time being, RAF financing will be offered only based on invitation, after selecting viable programs, with a focus on small cities and rural areas. RAF is headed in Romania by Roxana Vitan. More details about the program on www.rafonline.org

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