Translated version of this PSD: Romanian
Project Description
Romania - Bond Market Framework II (the "Framework") for the Bank to invest in medium to longterm negotiable debt securities, issued by Romanian banks or non-bank financial institutions ("Participating Financial Institutions" or "PFIs"). The eligible investments will include senior, secured (covered bonds, asset-guaranteed bonds) or unsecured instruments, as well as medium-term note programmes. The current Framework is a continuation of the previous Romania - Bond Market Framework approved by the EBRD in June 2013.
Project Objectives
The proposed Framework is compliant with the Country Strategy for Romania, approved by EBRD on 30 September 2015 which indicates that the Bank will pursue the strategic orientation of "Broadening access to finance by inducing lending and developing capital markets." The Framework contributes to the capital market development by supporting the issuance of senior bonds, as well as more complex financial instrument that are new to the market: covered bonds and asset-guaranteed bonds that would allow local PFIs to strengthen and diversify their funding sources and would contribute to a better balance sheet structure.
Transition Impact
The proposed Framework will contribute to Resilient and Well-governed transition qualities. The Framework will support the development of the Romanian capital market and the bond issuances placed by local PFIs, as well as contribute to the strengthening and diversification of medium and
long-term funding sources of the Romanian PFIs.The Framework will also support the issuance of innovative capital market instruments in Romania, such as covered bonds.
Client Information
Commercial banks and non-bank financial institutions in Romania.
EBRD Finance Summary
EUR 350,000,000.00
Total Project Cost
EUR 350,000,000.00
Environmental and Social Summary
Categorised FI (ESP 2014). All eligible participating financial institutions (PFIs) under the Framework will be required to comply with EBRD's Performance Requirements 2, 4 and 9 and submit Annual E&S Reports to the Bank.
Technical Cooperation
None.
Business opportunities
For business opportunities or procurement, contact the client company.
For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com
General enquiries
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com
Public Information Policy (PIP)
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Text of the PIP
Project Complaint Mechanism (PCM)
The Project Complaint Mechanism (PCM) is the EBRD's accountability mechanism. It provides an opportunity for an independent review of complaints from individuals and organisations concerning EBRD-financed projects which are alleged to have caused, or are likely to cause, environmental and/or social harm.
Please visit the Project Complaint Mechanism page to find information about how to submit a complaint. The PCM Officer (pcm@ebrd.com) is available to answer any questions you may have regarding the submission of a complaint and criteria for registration and eligibility, in accordance with the PCM Rules of Procedure.
