ECONOMY FINANCE&BANKING

Romania signs memorandum with World Bank for technical assistance to public institutions

The Romanian Government and the World Bank (WB) signed on Monday a memorandum of understanding for further technical assistance to public institutions until 2023, to support the structural reforms and the modernization of the public administration..

The document was signed by European Funds Minister Aura Raducu and by Elisabetta Capannelli, World Bank Country Manager for Romania. Attending were Prime Minister Dacian Ciolos and WB Vice President for Europe and Central Asia Cyril Muller.

“This is the second memorandum in this context with the World Bank. The first one was carried out in 2012-2015, when 26 financing agreements were signed for 20 institutions, for a total of approximately 32 million euros, financed from European programmes. The second agreement will also be financed from European programmes, the technical assistance programme for 2015-2020. It was signed in the context of talks between the European Commission and the Romanian Government, for which financing agreements were signed and will be signed with the three international financial institutions [the World Bank, the International Monetary Fund and the European Commission], minister Raducu declared on the occasion.

WB VP Muller estimated that Romania’s economic condition is significantly better than five years ago. He mentioned the continuous support of the WB for various programmes such as the reform of Romania’s administration, education and healthcare systems. Further assistance will be provided to the Romanian Government for reforms and for the efficient use of available European funds, and for reaching the country’s economic growth and living standard goals, he added.

According to a release of the European Funds Ministry, the assistance will be financed by the European structural and investment funds (ESIFs).

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