about us | newsletter | contact | archive | members area
Dan-Silviu Baciu, Conpet
The evolution of the oil industry in Romania - important changes in the last decade»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   GREEN   |   INFRASTRUCTURE   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

World Bank signs new Country Partnership Framework with Romania

The World Bank Group's Board of Executive Directors endorsed a new five-year Country Partnership Framework (CPF) for Romania that will prioritize investments in people, support for vibrant private sector development and stronger preparedness in the face of natural disasters and climate change.

2018-06-20 10:18:04

The strategy is selective in its approach to tackle Romania's ongoing challenges and aims to address key issues affecting inclusive and sustainable growth.

Romania's economic growth has been one of the highest in the European Union since 2010, with an average growth rate of 2.8 percent during 2010-2017, but despite 11 years of membership in the EU infrastructure is in a poor state, constraining investment and productivity in sectors such as manufacturing, agriculture and tourism. The private sector, while dynamic, is small, with limited access to finance, particularly for Micro, Small and Medium Enterprises. Most worryingly, despite strong growth, average incomes have not converged with the EU, poverty reduction has been lackluster, and social and regional divides are substantial and widening. Over a quarter of Romania's population lives on less than US$ 5.50 a day, the highest poverty rate in the EU.

"Stronger and more efficient public institutions are at the very heart of sustaining Romania's long-term growth," said Tatiana Proskuryakova, World Bank Country Manager for Romania and Hungary. "Eradicating poverty and ensuring greater and shared prosperity for all Romanians will necessitate more and smarter investments in education, a modern health system and better jobs. Our Country Partnership Framework for 2018-23 will support critical areas to enable Romania to fully capitalize on its tremendous potential and ensure that no one is left behind."

The World Bank opened its office in Romania in 1991. Since then, the Bank has provided over 13.6 billion USD in loans, guarantees and grants in all sectors of the Romanian economy.



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  647 Views
Daily Info
Porsche Engineering Romania relocates its headquarters in Cluj-Napoca

Two years after its official opening event, Porsche Engineering Romania inaugurated its new headquarters in Vivido Business Center in Cluj.

Dacia posts half-year sales record

Dacia posted a half-year sales record in Europe with 281,225 vehicle registrations (up 14.6 per cent) and a record 2.9 per cent share of the market, according to world sales r...

Industry 4.0: EIB supports construction of new Arctic factory in Romania

The European Investment Bank (EIB) is lending 68 million Euro to white goods producer Arctic to finance the construction of a large-scale washing machine production plant feat...

CTP invests in the facilities and infrastructure from CTPark Bucharest West

CTP continues to strengthen its position on the domestic market through a series of major investments in the development of CTPark Bucharest West. Currently, the property's bu...

Renault becomes the official automobile partner of Paris Saint-Germain

Paris Saint-Germain and Renault have signed an official partnership, linking the two organisations for the next three seasons.

 
 
   
advertising

advertising

advertising

advertising

More on News
Anca Jurma named interim chief prosecutor of Romanian anti-corruption agency

Prosecutor Anca Jurma has been named the interim chief prosecutor of the Romanian anti-corruption agency (DNA) following an order by the General Prosecutor Augustin Lazar. ...

2 Comments

Dacia posts half-year sales record

Dacia posted a half-year sales record in Europe with 281,225 vehicle registrations (up 14.6 per cent) and a record 2.9 per cent share of the market, according to world sale...

Romanian M&A market speeds up in Q2, says Deloitte

The M&A market in Romania marked a significant recovery in the second quarter of this year, reaching 391 million Euro, compared with 258 million Euro in the first three mon...

1 Comment

Healthy Central European private equity activity levels set to continue, says Deloitte

The strong momentum underway in Central Europe's private equity markets should continue, according to the latest Deloitte Central Europe Private Equity Confidence Survey.

1 Comment

Engie acquires Romanian IoT company Flashnet, specialized in Smart Public Lighting

ENGIE announces the acquisition of 60 per cent of Flashnet, a Romanian Internet of Things (IoT) company.

CEZ Group in Romania ended 2017 at a net profit level

CEZ Group in Romania ended 2017 with better results than in 2016 at a net profit level. Last year brought for CEZ Group in Romania a profit before interests, taxes, depreci...

2 Comments

Enel reaches one million residential customers on Romania free electricity market

Enel Energie and Enel Energie Muntenia announced reaching the mark of one million household customers on the free electricity market in Romania.

2 Comments