The Bank aims to support economic and social development, competitiveness, innovation and growth across Romania’s economy.
“The EUR1.6 billion measure we have approved today will enable the creation of the Romanian Investment and Development Bank, which will boost investments in the country and ultimately support economic growth. The Bank will ensure access to finance, especially to those small and medium sized companies that struggle to get sufficient support from the market. This will strengthen the competitiveness and sustainability of companies operating in the EU, while at the same time ensuring that competition is not unduly distorted,” said Margrethe Vestager, Executive Vice-President in charge of competition policy.
Romania notified to the Commission its plans to set up of a national development bank with initial capital of up to EUR1.6 billion (RON7.9 billion). The Bank will be established as a fully state-owned entity, with the Finance Ministry of as its shareholder, and will act under the supervision of the National Bank of Romania.
The aid will take the form of: (i) a capital injection of up to EUR608 million, out of which EUR10 million are estimated to be received in 2024 under the Recovery and Resilience Facility, (ii) a EUR1.4 million grant, and (iii) government guarantees worth EUR992 million.
(English version by Loredana Fratila-Cristescu)