Reza Baqir, the chief of the IMF mission for Romania, said that the Romanian authorities should take care when appointing the management of the fund, should observe the rules related to transparency, the management of the fund, the selection of investment projects, as well as minimize potential risks for the government, given the use of state guarantees.
The government plans to set up the Sovereign Fund for Development and Investment (FSDI), aimed at developing and financing profitable and sustainable investment projects with impact on the economic development and on the creation of long-term jobs. The fund’s value will exceed EUR10 billion.
The Romanian state, through the Economy Ministry, will be the sole shareholder of the Sovereign Fund for Development and Investment.