00:00 I'm very happy today to participate in
00:03 this closing conference for the catching up Regions
00:06 project
00:07 that the World Bank team has implemented in
00:09 very close collaboration with the European Commission.
00:12 But also working very closely with the Ministry of European Funds,
00:16 the Ministry of Regional Development,
00:18 and municipalities across the country.
00:21 For the World Bank,
00:22 this work is extremely important.
00:24 In fact,
00:24 it's central to our agenda in Romania
00:27 because municipalities,
00:29 urban agglomerations,
00:30 cities
00:31 are the engine of growth in Romania.
00:34 And so investment in these municipalities is
00:36 what will propel this country forward.
00:38 The future.
00:39 This is also where people live,
00:40 so the quality of life
00:42 of citizens of Romania depends on the quality of services in municipalities.
00:47 We are very happy to be working closely with DG Regio
00:50 because
00:51 historically about a third of all investments
00:53 in municipalities is happening with European funds.
00:57 And so this work today is extremely timely
01:00 as Romania is negotiating a new programming period with the European Commission.
01:05 And this work,
01:06 I hope,
01:06 will inform the formulation of the new programming period
01:11 and come up with better delivery mechanisms for investments to municipalities.
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