The European Bank for Reconstruction and Development (EBRD) has received from the Bucharest Stock Exchange (BVB) the award for having been the institutional investor that has contributed the most to the development of the local capital market, an EBRD release informs.
The BVB has considered that the EBRD has been ‘the largest and most active institutional investor in Romania, as well as promoter of the reform process of the capital market and of elimination of the barriers preventing it from development.’
The award was presented by the BVB’s CEO Ludwik Sobolewski (photo L) , during a ceremony held in Bucharest on February 2, and it was accepted by EBRD Director for Romania, James Hyslop (photo R).
‘The EBRD is a staunch supporter of Romania, and we are proud to be at the forefront of the efforts aimed at consolidating Romania’s capital market. Our objective is to contribute to the transformation of the local capital market into a realistic and efficient long-term capital source for the real economy and for the corporate sector, in particular,’ said James Hyslop.
As part of its efforts aimed at the development of Romania’s capital market, the EBRD has taken over a 4.99% stake in the BVB. Moreover, the EBRD has invested in the recent initial public offerings by Romgaz and Electrica. The EBRD is also the largest institutional investor in Romania, with some 7 billion euro invested so far in over 368 projects with almost €600 million of that total invested in 2014 alone.