about us | newsletter | contact | archive | members area
Gabriel Pantelimon, Xerox
Romania has also become known for its high quality human resources»
  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  |  953 Views
Daily Info
Transelectrica accelerates investments to increase the energy system safety in Dobrogea

The National Power Grid Company Transelectrica marked the completion of the second stage of the project of rehabilitation of the Station Transformation 400/110/20 kV Tulcea We...

CTP: smart expansion in a growing market

CTP, the most dynamic logistics and industrial parks developer in the country, will soon become a "millionaire" in square meters of premium logistics space. The company experi...

New regulations adopted by ANRE will have a strong negative impact on consumers and endanger 4.500 jobs, says ACUE

The electricity distributors members of the Federation of Associations of Energy Utility Companies (ACUE) are deeply concerned about the negative impact on networks and consum...

President Iohannis: Interconnection projects revealed at Three Seas Initiative summit are a top level political signal

The list of priority interconnection projects presented within the Summit of the Three Seas Initiative is "a top level political signal", on Tuesday stated Klaus Iohannis, in ...

Vodafone to lay off 1,700 service center employees in Romania, India and Egypt

Vodafone, one of the biggest telecom groups in the world, will lay off 1,700 employees from its service centers in Romania, India and Egypt, in this financial year, the group'...

 
 
   
advertising

advertising

advertising

advertising

advertising

More on News
President Iohannis to hold CSAT meeting on September 4 for budget revision

Romanian president Klaus Iohannis has summoned on September 4 the members of the Supreme Council of National Defence (CSAT) to approve the budget revisions for institutions...

1 Comment

New Government reshuffle in Romania to take place in October

A new reshuffle of the Government is supposed to take place in early October, according to the Socialist-Democrat Party (PSD) Liviu Dragnea. He said that, together with the...

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. ...

1 Comment

Ambassador Klemm: Women are directly affected by digital exclusion

Women are directly affected by digital exclusion, US Ambassador to Bucharest Hans Klemm said Monday at the opening of the Digital Romania International Forum.

President Iohannis: Interconnection projects revealed at Three Seas Initiative summit are a top level political signal

The list of priority interconnection projects presented within the Summit of the Three Seas Initiative is "a top level political signal", on Tuesday stated Klaus Iohannis, ...

Black Sea Trade and Development Bank gives 40 million Euro loan to Alpha Bank Romania

The Black Sea Trade and Development Bank (BSTDB) is increasing the availability of financing to small and medium enterprises (SMEs) in Romania with a 40 million Euro SME Fa...

Romanian bank to change name after takeover

U.S. investment fund J.C. Flowers is preparing to change the name of local lender Piraeus Bank, which they acquired at the end of last year from Greek group Piraeus.