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October 5, 2022
BUSINESS

EBRD president praises way Romania overcomes crisis difficulties

The European Bank for Reconstruction and Development (EBRD) President Suma Chakrabarti, during the talks with Romanian President Traian Basescu at the presidential Cotroceni Palace late on Monday praised the way that Romania overcame the crisis difficulties as well as the reforms as part of the Multilateral Financial Assistance Accord signed by Bucharest with the International Monetary Fund, the European Commission and the World Bank, Agerpres reports.
Basescu also thanked Chakrabarti for the cooperation with the EBRD, during the economic crisis included and for the support rendered the Romanian cities, banks and private sector, the President’s Office said in a press release. ‘EBRD President Suma Chakrabarti said he appreciates both the way that Romania overcame the crisis difficulties as well as the reforms as part of the Multilateral Financial Assistance Accord signed by Bucharest with the International Monetary Fund, the European Commission and the World Bank. At the same time, the EBRD president underscored that the institution he heads can further take part in Romania’s development by the support it can offer particularly on increasing the rate of the European funds’ absorption, by participating in public-private partnership projects and by promoting Romania as a destination for the foreign investments,’ the release said.
On the other hand, Suma Chakrabarti, who is on a visit to Bucharest, mentioned that the EBRD would invest EUR 500 M in Romania this year and voiced the institution’s intention to sign a syndicated credit in telecommunications in Romania, but he did not specify with what company.  “I hope that in the days to come they will sign a significant syndicated credit in the field of telecommunications. In context he estimated that Romania would have stability in the future “as long as the Government can continue its reforms and as long as we can contribute to good projects,” Chakrabarti told a joint press conference he gave together with Premier Victor Ponta.
The president EBRD considers that Romania has made remarkable progress in the past two decades, since the fall of communism, and the bank has played an important part in this progress. “This is why Romania holds the third largest portfolio when it comes to the volume of the investments made by the EBRD. This is why, since 2008, when the financial crisis hit, the EBRD has given EUR 2.8 bln to Romania. I think both of us opine that Romania has an important development potential. This is why we intend to come to a volume of investments amounting to EUR 0.5 bln in Romania, further completed the EBRD head.
He said that the EBRD had ‘good reasons’ to trust Romania and appreciated that the Government took very good measures for keeping the budget under control.
Moreover, Chakrabarti appreciated that the Government had an important programme of reforms and emphasized the necessity to draw more direct foreign investments. In context Chakrabarti said that the first months of the year showed ‘good signs’ when it came to this country’s economic recovery.

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