Number of Active Projects
Under the Country Partnership Framework (CPF) for FY19-23, the World Bank supports Romania’s efforts to accelerate structural reforms and convergence with the EU. The Bank uses the full range of instruments for financial and technical assistance.
In the past year, the Bank has worked to adapt to the changes brought by the COVID-19 pandemic and restructured the existing portfolio. The Health Sector Reform Project was reorganized to help authorities procure emergency supplies and equipment.
Also, the Romania Secondary Education (ROSE) Project was restructured to deliver equipment and materials to 1,100 high schools and to provide over 60,000 vulnerable students with access to online education. The ongoing Performance and Learning Review will provide small adjustments to the CPF to reflect the current challenges of the COVID-19 outbreak.
International Bank for Reconstruction and Development
Engagement over FY19-23 has the overarching goal of strengthening Romania’s institutions, advancing poverty reduction, and promoting shared prosperity through three pillars:
- Equal opportunities for all
- Private sector growth and competitiveness
- Resilience to shocks
The Romania program consists of nine lending projects and 59 Advisory Services and Analytics (ASA) tasks, out of which there are:
- 42 tasks corresponding to 34 Reimbursable Advisory Services (RAS) agreements that are signed and under implementation
- five RAS agreements under preparation
- four non-RAS ASA (Bank budget-funded)
- seven non-RAS ASA (EU-funded Trust Funds)
- 1 EU-funded Trust Fund under preparation
The active lending portfolio of the International Bank for Reconstruction and Development (IBRD) amounts to $1.98 billion and covers such sectors as: education, health, disaster risk management, justice, and the environment.
The health program has been expanded and now includes the Health Sector Reform Project and the Health Program for Results (Health PforR). The Health PforR of €500 million will help the Government increase the coverage of primary health care for underserved populations and improve the efficiency of health spending by addressing underlying institutional challenges.
The RAS program - one of the largest in the World Bank at $114.12 million - is focused on priority areas for Romania’s EU convergence, such as improved strategic planning and budgeting, evidence-based policy making, protection of the vulnerable, disaster risk management, human development, and strengthened capacity for monitoring and evaluation. It also features engagements supporting a number of municipalities, including Bucharest, Brasov, and Cluj, as well as other subnational authorities, to enhance their capacity for planning and prioritizing investments and urban regeneration.
The ASA program includes technical assistance projects financed directly by the European Commission through a Trust Fund framework in areas, such as: early school leaving, social inclusion of the Roma minority, business development/entrepreneurship, civil service reform, and flood risk management.
International Finance Corporation
The International Finance Corporation’s (IFC) committed own account portfolio in Romania ranks second in the Europe and Central Asia region after Turkey. Since the start of operations in Romania in 1991, IFC has invested approximately $3.5 billion, including over $700 million in mobilization, in over 112 projects.
As of February 28, 2021, IFC's committed portfolio in Romania was $735.41 million, of which 64 percent represented investments in financial institutions (banks, non-bank financial institutions) and the remaining 36 percent investments in the real sector. The outstanding portfolio is US$691.5 million. In FY20, IFC’s commitments in Romania totaled $334 million, including mobilization.
Last Updated: Apr 05, 2021