EBRD will help Romania access EU funds, advance structural reforms

The EBRD and the Romanian government have signed a framework agreement to help Romania make good use of the funds allocated by the European Union for projects that aim to boost the country's economic and social development.

 The framework signed today in Bucharest paves the way for the EBRD to support sector reforms and help define operational priorities in the areas of energy efficiency, development of municipal services and projects, and support for attracting private resources and introducing alternative financing mechanisms for infrastructure.

 The EBRD will specifically focus on energy efficiency in public and residential buildings, support for regional water and wastewater treatment companies, support for the preparation of district heating and urban transport strategies, among others.

 "Romanian public authorities will benefit from the EBRD's expertise in making sure the EU structural funds are used in an effective and efficient way so that they deliver growth,” said Peter Stredder, the EBRD's acting director for Romania, signing the agreement in Bucharest today.

 "The EBRD is happy to transfer its know-how in developing and implementing sustainable and commercially viable projects with an impact on countries' economic transformation. The aim is to reinforce Romania's capacity to absorb structural funds, advance key reforms, maximise results and stimulate growth,” he added.

 The assistance offered covers support to Romania in developing sector policies and strategies, designing and implementing priority projects in 2007-13 and will help, along with the EIB and the World Bank who have signed similar agreements, strengthen the Romanian government's capacity to make full and effective use of the Structural Funds in the 2014-20 period.

 Since the beginning of its operations, the EBRD has invested about €6 billion in Romania, mobilising over €11 billion for the projects from other sources of financing.