Traian Basescu Criticizes Nicusor Dan’s Decisions After Local Elections
Former president Traian Basescu has criticized Nicusor Dan for the decisions he made following the local elections in June, where he ran for Bucharest mayor.
Basescu criticized Dan’s refusal of the deputy-mayor position, saying he is disappointed he refused to take on responsibilities.
“I don’t understand Nicusor Dan. He got the score he got and refused the deputy mayor position. He could have been given some responsibilities,” said Basescu on Romania TV. (Evenimentul Zilei)
High Lending Costs Drive SMEs To Self-Financing
Nearly three quarters (72%) of small and medium-sized businesses in Romania self-finance because of harsh lending conditions and loan guarantees that they consider unjustifiably large.
The main obstacles in taking bank loans are high interest rates (44.4% of respondents), lack of guarantees (29.1%), high number of required documents or increased difficulty in obtaining a loan compared with other sources of financing (19%). Uncertainty regarding the company’s financial situation is a barrier for 18.1% of respondents.
Only 22.6% of SMEs resort to bank loans. Other financing sources are supplier credit (21.2%), leasing (7.9%), loans from non-banking financial institutions (1.7%) and non-reimbursable funding (2.1%). The majority of entrepreneurs that rely on self-financing are in retail and services, while bank loans are mostly accessed by tourism businesses. (Adevarul)
EIB Supports Romania EU Project Co-Financing With EUR360M
The European Investment Bank (EIB) is lending EUR360 million to Romania to finance the national contribution to growth-oriented investments during the 2014-2020 EU programming period under Operational Programs targeting competitiveness, human capital and large-scale infrastructure.
The loan will support the Romanian Partnership Agreement with the EU for the 2014-2020 programming period, focusing on investments in the areas of energy, environmental improvement, Research & Development and Innovation (RDI), Information and Communication Technology (ICT), employment, education and social amenities, EIB said in a press release Friday.
“The loan agreement signed today with EIB is a proof of the joint attention paid by the Romanian Government and the bank of the European Union to improve the absorption of European funds dedicated to three operational programs: Large Infrastructure, Competitiveness and Human Capital,” said Romanian finance minister Anca Dragu. (Romania Libera)
Health Ministry Assigns RON500M to Clean Up Bucharest Burns Hospital
The Health Ministry allotted nearly RON500 million to meet hygiene standards at the Bucharest Burns hospital, where the intensive care unit was shut down last week.
The hospital has 30 days to remedy its situation otherwise it faces massive fines, officials said. (Adevarul)
At Least Five Orphanages Under Investigation On Child Trafficking, Prostitution Suspicions
At least five orphanages in Romania are under investigation on suspicion of child trafficking and prostitution, the labor minister said.
He said there are suspicions of child trafficking and prostitution rings at five orphanages in the southeastern part of Romania.
He said he received alarming data from intelligence services and investigations started in May. (Evenimentul Zilei)