The Board of Directors of the European Bank for Reconstruction and Development (EBRD) approved on Friday the new strategy for Romania, which will define the bank’s involvement and investments in the country in the next five years, informs a press release of the financial institution.

The EBRD’s activity in Romania will include measures that respond to the coronavirus crisis and support economic recovery efforts. Thus, in the period 2020 – 2025, EBRD investments and policies will support: sustainable infrastructure and regional development; increasing productivity by supporting expanding private companies and improving workforce skills; as well as financial intermediation and further development of capital markets.

“The EBRD is well positioned to support the modernization of the Romanian economy, including to help the country overcome the impact of the coronavirus. We will channel investments in areas where Romania needs the most support: infrastructure development, especially in regions; stimulating private sector productivity and the further development of the financial sector and capital markets,” said Mark Davis, who took over the role of EBRD Regional Director for Romania and Bulgaria on April 1, 2019, according to Agerpres.

The EBRD is a major investor in Romania and combines direct investment with support for reforms that contribute to improving the country’s business environment and mobilizing investment from other sources. So far, the EBRD has invested almost 8.7 billion euro in the Romanian economy.