World Bank Approves €600M Loan for Romania

World Bank Approves €600M Loan for Romania
The Board of Executive Directors of the World Bank Group (GBM) approved on Thursday a development policy loan (DPL) for Romania, worth 599.1 million euros, with a double focus on economic and environmental sustainability.
According to the WB, this loan regarding the fiscal management and green economic growth of Romania allows the implementation of reforms in order to strengthen the country’s fiscal framework, the promotion of a green and inclusive economic growth and the stimulation of investments from the private sector.
The loan also establishes a foundation for greater private-sector involvement in renewable energy and energy efficiency by introducing innovative financing for green investments. It includes measures to enhance offshore wind, green hydrogen, and other renewable energy capacities, and strengthens public-private partnership legislation. These steps are crucial for Romania to fulfill its commitments under the European Green Deal and meet climate mitigation goals, especially considering the country’s significant vulnerability to climate change risks.

“The World Bank Group remains a steadfast partner in Romania’s journey toward a more equitable and sustainable economy. This new funding reflects our confidence in Romania’s capacity to integrate inclusive growth with environmental stewardship,” said Anna Akhalkatsi, World Bank Country Director for the European Union. “The operation supports a package of reforms designed to create a lasting impact that boosts inclusion in Romania and contributes to global efforts to combat climate change.”

The post World Bank Approves €600M Loan for Romania appeared first on The Romania Journal.

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