Stiri	Stiri afaceri	Stiri companii	Evenimente de afaceri

EBRD adopts new strategy for Romania

The EBRD has adopted a new strategy for Romania in which the Bank reaffirms its commitment to the country and sets out its priorities for the next three years, according to a release published on the bank's website.

In the coming period, the EBRD will focus on private sector companies, energy and infrastructure in order to support the production side of the economy and assist Romania in maximising the benefits of EU membership. The Bank has identified a number of key areas where it can still have a strong transition impact. Accordingly, the Bank will focus on the following priorities over the forthcoming strategy period. In the private enterprise sector, the bank will provide support to the local private sector, with a special focus on competitiveness and expansion throughout Romania and cross-border. The bank will pay particular attention to the development of businesses in less advanced regions of Romania in order to promote regional integration. The single EU market and competition from Asia are challenges to the Romanian private sector which the bank will help address through finance and expertise. Investment requirements will be addressed in a range of areas including services, manufacturing, technology and skills training. Funding requirements will be considered in close collaboration with local banks and private equity funds. The bank will diversify its range of financing products to include more high-risk instruments (such as equity, quasi equity, and structured debt) to support the restructuring, consolidation and expansion of local companies on the Romanian market and to attract further FDI. The bank will enhance its efforts to lend in local currency to those borrowers which generate local currency revenue streams. Local currency loans are critical to mitigate potential foreign exchange exposure which may arise for borrowers whose revenues are denominated in RON but which do not have matching RON liabilities. Financial tools, such as dedicated credit lines utilising EU post accession funds, will be tailored to help local businesses. In the energy sector, the bank will continue to invest with both the public and private sectors in energy generation, transmission and distribution, including policy dialogue to promote appropriate regulatory and institutional reform in line with the EU Directives and the Government's recently approved energy strategy. In addition the bank considers there is a particular need to invest in the upgrade and rehabilitation of electricity assets, especially power stations. Energy efficiency and renewable energy projects will be promoted as part of the bank's sustainable energy initiative. The bank will work to help address Romania's high energy intensity challenge (which is negatively affecting the economy's competitiveness) by promoting energy efficiency projects, for municipalities, industries and households. In the infrastructure, the bank plans to assist Romania improve its infrastructure, including the transport sector, to ensure enhanced regional cooperation, improved trade and the utilisation of single market benefits. This includes improving the administrative capacity for structuring PPPs and supporting private sector capital in key transport infrastructure projects that will enhance economic development. In addition, the bank will continue its activities in the municipal sector throughout the country, especially in view of the opportunities arising from the EU post-accession structural and cohesion funds. This will include a focus on the smaller municipalities. The bank will continue to pursue lending on a commercial basis directly to regional water and waste water companies to upgrade and expand their assets and to municipalities for urban transport and roads, energy efficiency and solid waste transactions. The European Bank for Reconstruction and Development was established in 1991 when communism was crumbling in central and eastern Europe and ex-soviet countries needed support to nurture a new private sector in a democratic environment. The Bank's cumulative commitments to Romania have now reached 3.54 billion euros and the Bank has signed 248 transactions (as at the end December 2007). In addition the Bank has mobilised further funding of 6.5 billion euros or over 10 billion of total funding. Sursa: http://www.rompress.ro

Tags: energy local sector private romania which strategy

Articole similare