“We see large potential to further ramp up investment here. Romania is growing at the fastest rate in the European Union (EU). To support economic growth and help income levels converge with those of more advanced EU economies, the country needs major investment to expand, upgrade and maintain its infrastructure. The EBRD is more than happy to finance well-designed projects in road and railway infrastructure, and restructure and help privatize state-owned enterprises,” said Chakrabarti.
The EBRD, a leading institutional investor in Romania, has invested close to EUR8 billion in the country to date. In 2017 alone, the bank invested EUR550 million.
Chakrabarti urged Romanian authorities to step up reforms which would unlock infrastructure development.
He praised the Constanta-based water utility RAJA as an example of a successful transformation in municipal infrastructure. Since 1994, the EBRD has provided over €60 million in financing to the company, helping it to become Romania’s largest and most developed regional water and wastewater operator, serving three million people in eight counties.
“The EBRD is well placed to support the full range of projects required to deliver on transport, energy and digital connectivity in the region of the Three Seas. We have a variety of instruments to offer, including PPPs [public-private partnerships], co-financing with EU funds and large private sector syndication,” the EBRD president said at the Three Seas summit in Bucharest.
The visit also included discussions with representatives of the business community and the signing of a EUR5 million loan agreement with local car rental services provider Autonom.
In addition, Chakrabarti pledged the EBRD’s support for growing the tourism potential of the National Museum of Art of Romania and delivered a lecture at the Bucharest Academy of Economic Science, which awarded him an honorary doctorate five years ago.