Radio România Internațional

Tag: EIF

  • European funds for investment

    European funds for investment

    Small
    and medium sized enterprises that have financial difficulties and Romanian
    students who want to continue their studies abroad will be granted over 170 million euros in European funds. The European
    Investment Fund (EIF) signed four agreements with four banks in Romania on
    Wednesday.

    These are in fact guarantee funds, with the
    EIF assuming part of the risk. The EIF and a non-banking
    financial institution FINS signed the first Erasmus+ guarantee agreement in
    Romania, enabling FINS to offer a new loan product to Master’s students who
    would like to study abroad.






    Thanks to the guarantee,
    about 450 students will be able to get more favourable conditions when they
    apply for a loan to study in another EU country, Iceland, Liechtenstein, North
    Macedonia, Norway or Turkey. The 4.5-million euro agreement comes under the
    Erasmus Plus loan guarantee scheme financed by the European Union and managed
    by the European Investment Fund.






    The head of the European
    Commission Delegation in Bucharest, Angela Cristea, who attended the ceremony
    of signing the agreements,
    believes the Romanians’ fears towards the EU come in fact from the fear of the
    unknown and the best way to overcome it is the direct contact with other
    European societies.






    Angela Cristea: The more the
    programs helping European citizens to go and live for a while in another
    country, the more tolerant and open our societies will be. This is exactly what
    we want, especially at this time when the future of the European Union is being
    decided. That is why, these accords, which apparently are more or less common
    financial operations, have in fact a much higher stake.






    The European Fund for
    Strategic Investments (EFSI) is the heart of the Investment Plan for Europe,
    known as the Juncker Plan. According to Angela Cristea, the plan initially
    worked better in developed economies, where financial tools are no longer a
    challenge, but is also working in Romania, where 29 projects financed under
    this plan are already underway.






    16 of them are large
    infrastructure programs and 13 are programs that enhance the SMEs’ access to
    financing instruments. Cristea has also said that based on the accords signed
    on Wednesday, some 3 thousand SMEs will be supported to get access to
    financing. The support consists in covering some of the risks taken by the
    banks when they approve a loan for SMEs.





  • April 3, 2019

    April 3, 2019

    ROMANIA-MONTENEGRO – Romania’s Prime Minister Viorica
    Dancila hailed progress reported by Montenegro in the negotiation process with
    the EU at the end of a meeting she had in Bucharest with her Montenegrin
    counterpart, Dusko Markovic. Dancila reiterated Bucharest’s commitment to
    continue to support the EU enlargement process based on individual merit. The
    agenda for talks included defense cooperation at NATO level, energy security in
    the region and agriculture. The Romanian Prime Minister said a
    Romania-Montenegro business forum will be held later this year. In turn, Prime
    Minister Dusko Markovic said Romania is not just a friend, but a partner for
    Montenegro, able to help based on its experience as EU member. Also today, Dusko Markovic will meet President
    Klaus Iohannis.

    JUDICIARY -
    The College of EU Commissioners is today discussing the rule of law in Romania.
    The Commission has repeatedly expressed concern over the latest developments
    tied to the rule of law in Romania. The Commission believes both the content
    and the procedures used to operate recent changes in the field, by using
    emergency decrees and without consulting stakeholders, go against the
    recommendations issued under the Cooperation and Verification Mechanism, which
    has been monitoring Romania’s progress in reforming its judiciary and combating
    corruption since its EU accession in 2007.

    NATO
    – Romania’s Foreign Minister Teodor Melescanu on Wednesday and Thursday is
    taking part in the NATO Foreign Ministers meeting held in Washington. The event
    is symbolic, marking 70 years since NATO was founded. A joint Declaration will
    be adopted at the end of the meeting. The North-Atlantic Treaty was signed in
    Washington on April 4, 1949 by the United States, Canada and 10 European
    states. NATO currently comprises 29 states from Europe and North America.
    Romania joined NATO in 2004.

    CONFERENCE -
    Romanian Minister for Tourism, Bogdan Gheorghe Trif is in Bucharest today
    attending the conference titled Sustainable Tourism – Common Policies of EU
    Member States, organized on the sidelines of the Romanian Presidency of the
    Council of the EU. Attending are experts from European institutions and travel
    specialists from EU member states. The Romanian Presidency’s priorities in the
    field are digitizing the sector, collaborative economy (sharing physical and
    human resources) and the sustainable development of tourism at EU level.

    INVESTIGATION -
    The Social-Democratic Party’s treasurer, Mircea Draghici, has challenged the
    decree whereby the National Anticorruption Directorate is investigating him in
    a case linked to spending subsidized party funds, claiming the case lacks any
    legal basis. Prosecutors say Draghici was tasked with managing the party’s
    assets and funds and had allegedly pocketed 380 thousand euros pursuant to
    signing a real estate rental contract. The subsidized money was given to
    Draghici to cover the partial payment accounting for two thirds of a
    building.

    FUNDS -
    The European Investment Fund (EIF) today signed four financing agreements with
    Romania, whereby granting Bucharest over 170 million euros for the development
    of SMEs as well as to be able to provide loans for students who want to further
    their studies abroad. Some 450 students will benefit from advantageous loans to
    study in another EU country, such as Iceland, Lichtenstein, North Macedonia,
    Norway and Turkey. Under the new agreements, a total of 3,000 SMEs will benefit
    from improved terms for financing. EIF is part of the Group of the European
    Investment Bank, its main mission being to support European SMEs by
    facilitating their access to financing.

    MOTION -
    The simple motion filed by the Liberal Party and the People’s Movement Party in
    opposition against Transport Minister Razvan Cuc was today debated and rejected
    by the Chamber of Deputies. The two parties called on Minister Cuc to step
    down, saying that the ruling coalition has pledged to build 350 kilometers of
    motorway by 2020, of which only 58 kilometers have been completed in the year
    and three months that have since passed. The two parties also said that in
    spite of the EU funds specially allotted for large infrastructure projects,
    only four financing requests have been submitted in nearly five years. The
    opposition also claimed the situation spells disaster in terms of rail
    infrastructure, while the national airliner Tarom is on the verge of
    bankruptcy.

    TENNIS -
    Romanian tennis player Mihaela Buzarnescu (30 WTA) is today playing Lauren
    Davis of the United States (184 WTA) in the second round of the WTA tournament
    in Charleston, South Carolina, totaling 800,000 dollars in prize money. This
    will be the first direct match between the two players. Buzarnescu previously
    ousted Poland’s Magdalena Frech (182 WTA) in the first round at Charleston.
    (translated by V. Palcu)