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EBRD to provide €400 million in financing for Romanian projects

The European Bank for Reconstruction and Development (EBRD) this year will invest in Romania some €350-400 million ($410-545 million), director of the EBRD office in Romania Hildegard Gacek told a press conference on July 3.

“Until the end of June we had invested in Romania about €250 million and by year-end I expect the amount to reach €350-400million,” said Gacek. Whereas in the interval 1992-2000, the activity of European Bank for Reconstruction and Development had focused on co-financing in the public sector, about 70% of the co-financing supplied by the international financial institution is now directed towards the private sector.

Since 1992, EBRD invested in Romania €3.5 billion ($4.77 billion) whereas the co-financed amounts exceed €6 billion in about 175 investment projects. The bulk of the EBRD investments are in the financial-banking sector - about €990 million, followed by industry with €499 million, transport infrastructure with €440.3 million, and telecowith over €425 million. (people.com)