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. The Performance and Learning Review provided small adjustments to the CPF to reflect the challenges of the COVID-19 outbreak.
In the past year, the Bank has worked to adapt to the changes brought by the pandemic and restructured selected operations. The portfolio was also expanded to include an additional financing in health as well as a new operation aimed at supporting long-term investment in school infrastructure; building the foundations for future investments while mobilizing EU resources and local budget funds; and improving the capacity of institutions to manage disaster and climate risks.
Engagement over FY19–23 has the overarching goals of strengthening Romania’s institutions, advancing poverty reduction, and promoting shared prosperity by supporting:
- Equal opportunities for all
- Private sector growth and competitiveness
- Resilience to shocks
International Bank for Reconstruction and Development (IBRD)
The active lending portfolio of IBRD consists of 10 projects ($2.28 billion) covering education, health, disaster risk management, justice, and the environment.
The Advisory Services and Analytics include 33 Reimbursable Advisory Service (RAS) agreements under implementation, one Bank-funded analytical work, and eight Trust-Funded tasks. The RAS program supports: improved strategic planning and budgeting, evidence-based policy making, protection of the vulnerable, disaster risk management, urban regeneration, human development, and strengthened capacity for monitoring and evaluation. The technical assistance financed by the European Commission through Trust Funds covers: early school leaving, social inclusion of the Roma minority, entrepreneurship, civil service reform, and flood risk management.
International Finance Corporation (IFC)
The IFC-committed own account portfolio in Romania ranks first in the newly created Europe region. Since the start of operations in Romania in 1991, IFC has invested approximately $3.7 billion, including over $700 million in mobilization, in over 120 projects.
As of August 31, 2021, IFC’s committed portfolio in Romania was US$1,037 million, of which 60 percent represented investments in financial institutions (banks, non-bank financial institutions) and the remaining 40 percent investments in the real sector. The outstanding portfolio is $889 million. In FY21, IFC’s commitments in Romania totaled $429 million, including mobilization.
Last Updated: Oct 13, 2021