EBRD to invest up to €500 million a year in Romania

The European Bank for Reconstruction & Development (EBRD) has adopted a new three-year strategy for Romania which budgets for an annual investment of between €400 million and €500 million.

The EBRD said the short-term outlook for Romania remained uncertain in light of the renewed turmoil in the Eurozone and global markets. It said its funds would be used to support economic growth in the country and encourage more foreign direct investment.

The EBRD said it would work with Romanian authorities to expand its activities in the municipal infrastructure sector, enhancing commercialisation, competition and private sector involvement in both transport and municipal public services.

In the energy and infrastructure sectors, the EBRD said its operations would focus on enhancing Romania's energy security, increasing investments in renewable energy, as well as assisting with the privatisation of state-owned companies.