The FINANCIAL — Romania has become the EBRD's third largest country of operations in terms of business portfolio following five years of strong investment during the global economic crisis. The Bank has provided financing of €2.8 billion since 2008, with over €600 million flowing just last year. Sir Suma, EBRD President told senior politicians during his visit that the EBRD was likely to invest another €0.5 billion in 2013, according to EBRD.
He looked ahead to an important investment due shortly in the telecoms sector which is aimed at helping to build up the knowledge economy and raise the level of competition in the industry.
EBRD signed a loan worth €80 million with the BCR banking group for on lending to SMEs. One major focus of this loan was to get funds out to more remote areas where development is less advanced than in major cities likes Bucharest, according to EBRD.
The pace of economic growth fell sharply last year, with expansion just above 0.5 per cent. The economy is picking up more strongly than expected so far this year. "But to make this growth sustainable in the long term we need the support of the EBRD," Prime Minister Victor Ponta told journalists after his meeting with Sir Suma.
The Prime Minister told Sir Suma that improving roads in general was a major concern for the Romanian people. But this stretch to Brasov was the "most important 49 km in Romania". Completing this stretch "would unblock the whole country" he said.
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