The government’s decision to create Romania’s Sovereign Fund could appear in the Official Gazette in about three weeks, said Sebastian Bodu, state adviser to the Prime Minister’s Chancellery.

He stressed that the intention of the Executive is to create an investment fund and not a development fund.

“We will support the government decision that will implement the emergency ordinance 100 in the sense of create the investment fund. The decision will enclose development and investment because it seems that the two activities would be mandatory to be done together, but the intention of this Government is to make an investment fund and not a development fund. Especially since there are also public discussions about a development bank, which would be created in parallel with this fund. As a result, this fund will focus on investments, it will be a private equity fund. Therefore, it aims to acquire, in particular, by subscription, capital or social participations in closed, unlisted companies,” said Sebastian Bodu, according to Agerpres.