Number of Active Projects
Through the Country Partnership Framework (CPF) for FY19-23, the World Bank supports Romania’s efforts to accelerate structural reforms and convergence with the EU through robust, sustainable, and equitable growth and enhanced competitiveness.
Engagement over FY19–23 has an overarching goal of strengthening Romania’s institutions and aims to advance poverty reduction and promote shared prosperity through three pillars:
- Equal opportunities for all
- Private sector growth and competitiveness
- Resilience to shocks
The World Bank has initiated the preparation of a new CPF for FY24-28 for the engagement in Romania. This CPF will focus on contributing to country’s convergence with EU peers, through improved human capital outcomes, enhanced environment for more and better jobs, increased resilience and accelerated green transition, while enhancing institutions to serve all people and businesses as a cross-cutting theme. The CPF will be finalized in FY24, and consultations are underway through November 2023.
International Bank for Reconstruction and Development (IBRD)
The Romania program utilizes the full array of the World Bank instruments and consists of 14 projects ($3.75 billion) and 38 Advisory Services and Analytics (ASA), out of which three are EU-funded trust funds ($2.75 million), one EU-funded trust fund under preparation, 30 Reimbursable Advisory Services (RAS) agreements in implementation ($123.64 million), one RAS activity under preparation, and three World Bank-financed ASA.
The RAS program complements the overall country program in Romania and supports enhancing institutional capacity in the areas of governance, public administration, strengthened capacity for monitoring and evaluation, public procurement, flood risk management, agriculture, justice reform, and an increasing set of activities supporting the capacity strengthening of the Government of Romania in implementing the National Resilience and Recovery Plan for reforms (improved strategic planning and budgeting, pensions, tax framework, public wage, social assistance, education, water, central government functions, digitalization). The technical assistance financed by the European Commission through trust funds covers early school leaving, energy sector regulatory framework, market development and energy efficiency, public procurement, access to education for displaced Ukrainian children and access to assistance services for Ukrainian refugees.
International Finance Corporation (IFC)
The IFC envisages boosting productivity growth by: (i) facilitating higher value-added investments and innovation, including in agribusiness, (ii) promoting access to finance and deepening the capital market, and (iii) improving access to quality social services and affordable housing. Bridging the productivity gap requires: (i) improving regional trade logistics and (ii) addressing the infrastructure and digital gap. Innovative solutions for green growth will be supported by: (i) scaling up of clean energy and decarbonization, (ii) smart-city infrastructure, including waste, water, and circular economy, and (iii) green and climate-linked financial instruments. The program will be supported by advisory services for PPPs and M&A as well as green transactions.
Last Updated: Oct 09, 2023