Romania’s PM Victor Ponta in working visit to EBRD

By Olga Rosca
@olgarosca

Romania's Prime Minister, Victor Ponta, (left) shakes hands with EBRD President Sir Suma Chakrabarti at EBRD headquarters

Romania's Prime Minister, Victor Ponta, (left) shakes hands with EBRD President Sir Suma Chakrabarti.

The Prime Minister of Romania, Victor Ponta, has paid a working visit to the European Bank for Reconstruction and Development (EBRD) today. The Prime Minister was accompanied by Finance Minister Eugen Teodorovici and Transport Minister Iulian Matache.

The delegation had meetings at the Bank’s Headquarters in London with EBRD President Sir Suma Chakrabarti and First Vice President Phil Bennett. Both sides underlined their commitment to strengthen the successful cooperation between the EBRD and Romania.

EBRD President Sir Suma Chakrabarti said: “With a domestic market of 20 million people and a growing number of companies that succeed in foreign trade, Romania has strong potential. The EBRD is determined to support the development of the country’s economy with a focus on fostering the private sector. We have a strong track-record in Romania and stand ready to deepen and expand our activities in the country.

Prime Minister Ponta added: “The EBRD has played a major role in Romania’s development and transition towards a free market economy since the revolution in December 1989. I would like to thank the EBRD’s leadership for their efforts and I hope the efficient cooperation between Romania and the Bank will continue in the coming years, within the framework of the new country strategy for Romania which will be approved at the end of this month”.

The EBRD is one of the largest institutional investors in Romania. To date the Bank has invested over €7 billion in some 370 projects in the country and has also mobilised more than €14 billion for these ventures from other sources of financing. The Bank’s activities are focused on developing capital markets, improving the quality of infrastructure, reducing regional disparities and boosting inclusion as well as enhancing the competitiveness of the private sector.

The EBRD’s operations in Romania are headed by Matteo Patrone who was appointed Director for Romania in June 2015 and also attended today’s meetings.

A new country strategy for Romania is expected to be approved by the EBRD Board of Directors on 30 September 2015.