Tag: GAS

  • Energy price caps, extended

    Energy price caps, extended

    In Romania, the energy price cap will further apply after April 1.

     

     

    The government in Bucharest has announced the extension of the electricity and natural gas price cap. This will apply after the end of next month, when the current price compensation mechanism was due to expire. For electricity, the cap will be extended for three months, until the end of June, and for natural gas, the extension will be for one year, until March 31, 2026. This extension will respect the scheme that is currently in force and aims to protect citizens’ incomes, said Energy Minister Sebastian Burduja. According to him, the ministry opted to extend the energy price capping period because, as calculations show, had it been liberalized now, it would have prompted increases in bills ranging from 60% to 100% for 95% of the consumption points. He specified that the one-year extension of the natural gas cap is aimed at restoring deposits for next winter, which would be done at low prices.

     

    Burduja also explained that, in making the decision to extend the cap, it was considered the fact that, in recent months, for reasons unrelated to Romania, prices on international markets have increased significantly, after the transit of Russian gas through Ukraine was halted. The price of gas has increased by up to 65% on the European market and the price of electricity by around 25%. Sebastian Burduja also said that the compensation-cap scheme ensured, according to Eurostat data, the fifth lowest price for electricity and the fourth lowest price for gas in the entire European Union. For natural gas, the maximum price will remain the same for another year, until March 31, 2026, because, the Energy Minister specified, at the end of the current cold season, deposits will reach a very low level, and their refill will mean an increased demand for gas, which will implicitly lead to price increases and much higher bills next winter for the population.

     

    In the meantime, the Ministry of Labor will develop a support mechanism, energy cards or vouchers that will later be granted to vulnerable people as support to cover costs. The Government’s decision to extend the electricity and natural gas price cap  was taken on the same day that Hidroelectrica, a state-owned company and the main producer and supplier of electricity in Romania, announced an increase in electricity prices by approximately 60% starting April 1. Minister Burduja recommends  Romanians to constantly check the website of the National Energy Regulatory Authority and opt for the best offer. (EE)

  • February 22, 2025

    February 22, 2025

     

    ELECTIONS The Central Electoral Bureau for the election of the president of Romania in May was selected on Friday. The Bureau is made up of 5 judges with the High Court of Cassation and Justice, the president and vice-presidents of the Permanent Electoral Authority and one representative of each party in Parliament. Parties, political or electoral alliances, ethnic minority organisations and independent candidates will be able to submit their candidacies by March 15, after which the Central Electoral Bureau is to rule on their validity. Thousands of Romanians, supporters of the independent sovereigntist Călin Georgescu, who came out first in the first election round in December, took to the streets again in Bucharest today to demand that the electoral process be resumed from where it was canceled. The billionaire Elon Musk, an advisor to the US president Donald Trump, Friday night posted a critical message on his social network X (the third this week) about the cancellation of the December elections. The US vice-president J.D. Vance had also previously questioned the cancellation of the elections. Romania’s Prime Minister Marcel Ciolacu said Bucharest would try to provide clarifications about the situation through all diplomatic channels.

     

    RATING Fitch has sent a clear signal that Romania must carry on its fiscal consolidation measures and restore budgetary balance, in order to improve its fiscal credibility, said finance minister Tanczos Barna after the international financial rating agency announced on Friday that it is keeping Romania in the investment grade category. In a statement, the agency confirmed Romania’s long-term rating at ‘BBB minus’, with a negative outlook. According to Fitch, the rating relies on the country’s EU membership and capital inflows that contribute to public revenues and macro-stability. The gross domestic product per capita and the governance and human development indicators are also higher than in countries in the same rating category, the agency explains. These strengths are overshadowed, however, by a significant deterioration of public finances and a sharp slowdown in economic growth in 2024. Adding to this is a possible adverse effect of political uncertainty. In December last year, Fitch announced that it had downgraded the outlook assigned to Romania from stable to negative. The same announcement came later from Standard & Poor’s.

     

    ENERGY Electricity and natural gas tariffs could be offset in Romania even after April 1, when the current aid scheme is set to expire. The energy ministry has posted for public review a draft act extending the capping period, under which the scheme for electricity is extended until July 1, and for natural gas by one year, until April 1, 2026. The capping extension proposal comes as prices on European electricity and gas exchanges have increased significantly, and also as the low temperatures in Romania this winter entailed a significant increase in consumption. As a result, the line minister Sebastian Burduja announced that the government had decided to protect Romanians and support the competitiveness of Romanian companies. After the energy market was deregulated on January 1, 2021, Romania was among the European countries the most severely affected by record-high electricity and natural gas prices. Thanks to the government’s price capping decisions, households and businesses were protected from excessive prices.

     

    CORRUPTION A company and 2 individuals are prosecuted in a case handled by the Romanian National Anticorruption Directorate (DNA), together with investigators from the US Department of Defence, the DNA announced today. The company owned by a Greek national has allegedly bribed a foreign official to get a EUR 9 mln contract to refuel aircraft at the NATO military base in Mihail Kogălniceanu. Two other individuals are suspected of complicity in continuing bribery in connection with an official of a foreign country.

     

    GERMANY Germany holds federal elections on Sunday that are crucial to the country’s future, as the far-right is on the rise and the economy is heading for a third year of recession. The vote comes after the coalition of the Social Democrats, Liberals and Greens led by the Social Democratic Chancellor Olaf Scholz collapsed late last year. According to polls, the Conservatives are expected to win. With the far-right in second place in the polls, however, analysts say that in order to govern, the Conservatives will have to reach a compromise with the Social Democrats or the Greens, overcoming their differences.

     

    FOOTBALL The Romanian football champions FCSB will face the French team Olympique Lyon in the Europa League round of 16, according to Friday’s draw in Nyon, Switzerland. FCSB will play the first leg at home on March 6, with the return leg scheduled on March 13. FCSB qualified for the round of 16 of the Europa League after outplaying the Greek team PAOK Thessaloniki, coached by the Romanian Răzvan Lucescu. The aggregate score was 4-1, with the Romanians defeating the Greeks 2-1 in the first leg, and 2-0 in Bucharest on Thursday evening. (AMP)

  • January 30, 2025

    January 30, 2025

    A roundup of local and international news.

     

    BUDGET – Romania’s draft state budget for 2025 will be finalized today.  On Saturday it will be approved by the Government and next week by Parliament, Finance Minister Tanczos Barna announced. He said that the budget includes money for investment in infrastructure and for the payment of salaries and pensions, at the level of November 2024. The budget will be built on a deficit of no more than 7% of the Gross Domestic Product. The funds allocated to the Presidential Administration, the Senate and the Chamber of Deputies will be smaller and the budgets of some ministries, such as Environment, Health, Education or Transport, will increase.

     

    ENERGY – Bucharest’s Energy Minister, Sebastian Burduja, has announced  that the Court rejected Greenpeace’s request to suspend the work on the Black Sea gas exploitation. He said that this is a victory for Romania’s energy independence and that the strategic project that Greenpeace tried to block in court will double Romanian gas production, create jobs and bring over 20 billion euros to the budget. Moreover, the gas from the Black Sea will ensure a more stable and lower price for Romanians, and Romania will become a regional energy supplier. Last year, Greenpeace requested in Court the suspension of the environmental agreement for the Neptun Deep project, due to concerns related to environmental protection, climate change and compliance with legislation. Neptun Deep is owned in equal shares by OMV Petrom company and the state owned company Romgaz. Production will be approximately 8 billion cubic meters annually for approximately 10 years.

     

    EVACUATION – Numerous Romanians, employed by a private military company operating in the eastern Democratic Republic of Congo (DRC), crossed the border into neighboring Rwanda on Wednesday to surrender to the authorities there, sources in Kigali said, quoted by international news agencies. The Romanians had been hired to fight alongside the Congolese army in the conflict that opposes it to the M23 rebel group, supported by Rwanda, in the Goma region. The Rwandan Ministry of Defense confirmed their surrender and spoke of “280 Romanian mercenaries” being evacuated by buses to the capital, Kigali.

     

    CRASH – An American Airlines passenger plane and a US military Black Hawk helicopter crashed into the Potomac River after a mid-air collision near Reagan Washington National Airport, US officials said, quoted by international news agencies. According to Washington media, several bodies were pulled from the water and no survivors were found. American Airlines said there were 64 people on board the plane – 60 passengers and four crew members. Three military personnel were on board the helicopter. Romanian President Klaus Iohannis sent a message of solidarity, to the American people. “Our thoughts go out to the families of the victims”, Iohannis wrote on platform X.

     

    FOOTBALL – Romanian football champion FCSB and the famous English team Manchester United will meet on Thursday evening at the National Arena in Bucharest, in the eighth and final round of the main phase of the Europa League. United is in fourth place in the standings, with 15 points, and FCSB is in eighth place, with 14 points. The top eight teams qualify directly for the round of 16, while the teams ranked 9-24 must get past the the play-off to advance to the round of 16.

     

    RUGBY – The Romanian national rugby team will make their debut on Friday evening in Bucharest, in a match against Germany, in the 2025 edition of the Rugby Europe Championship. The Romanians will also play against Belgium, on February 8, away, in Mons, and Portugal, on February 15, at home, in Botoşani (northeast). Romania can secure direct qualification for the Rugby World Cup in Australia, if it finishes the championship in one of the first two places of the group. With one exception, Romania has participated in all the world final tournaments.

  • January 25, 2025 UPDATE

    January 25, 2025 UPDATE

     

    UKRAINE The president of Ukraine Volodymyr Zelenskyy said that, taking into account Ukraine’s cooperation with the Republic of Moldova, it is possible for Kyiv to cover Moldova’s entire electricity demand, and a 30% discount on the supply price is also possible. He made these statements at a meeting on Saturday in Kyiv with the president of Moldova, Maia Sandu. The two officials also discussed possible coal deliveries to the Republic of Moldova. In turn, Maia Sandu accused Russia of trying to create economic and social chaos in Moldova and bring a pro-Russian government in power in Chisinau. She traveled to Kyiv amid energy tensions in Transnistria, a pro-Russian breakaway region between the two countries, AFP reports. This strip of land with a population of about half a million, which remains outside Moldova’s control, was supplied by the Russian natural gas giant Gazprom for free, through a pipeline that crossed Ukraine. The latter ended the contract with Moscow on January 1, thus cutting off supplies to Moldova, including to Transnistria, which declared a state of emergency. With Kyiv fighting the Russian invasion for three years, Chisinau is worried about a possible spillover of the conflict to its territory, especially through the destabilisation of Transnistria by Russia. The rest of Moldova is for now safe from energy cuts, thanks to electricity and gas imports from Romania.

     

    EXHIBITION Romania’s foreign ministry announced that on Saturday the National Museum of History of Romania (MNIR) and the Culture Ministry were notified that an explosion took place and several exhibits were stolen at the Drents Museum in the Netherlands, which is hosting an exhibition called ‘Dacia! Rijk van goud en zilver’ (‘Dacia! Kingdom of gold and silver’), organised jointly with MNIR. According to the institution, initial investigations indicate that the blast was designed to help as yet unidentified perpetrators to break into the museum building and steal pieces from Romania’s Dacian treasure. The foreign ministry notified the Romanian interior ministry and the Romanian police, while the Romanian embassies in all neighboring countries are on alert. Romania’s foreign minister Emil Hurezeanu spoke with his Dutch counterpart Caspar Veldkamp, ​​highlighting the exceptional importance of the stolen exhibits. The Dutch side assured Romania of its operational and political determination to solve the case. The Dutch police also activated cross-border cooperation mechanisms and informed the Interpol of the matter. (AMP)

  • January 11, 2025 UPDATE

    January 11, 2025 UPDATE

    A roundup of local and international news.

     

    ENERGY – Electricity and thermal energy production is expected to register a 2% decrease this year compared to 2024, but will go up in the next three years, according to the autumn forecast of the National Strategy and Forecast Commission for 2024-2028. Thus, in 2026, electricity and thermal energy production is estimated to increase by 1.4%. In 2027, it will increase by 1.5% and in 2028 by 1.3%.

     

     

    TRANSNISTRIA – The regime in Transnistria, an autonomous region part of the Republic of Moldova, has extended the state of energy emergency until the beginning of February. Since January 1, the Transnistrian region has no longer received natural gas from Russia, and more than 50,000 households have been left without gas and almost 1,500 blocks of flats have had no heat or hot water. The authorities in Tiraspol refused the help offered by the Chisinau administration, which so far has managed to ensure the supply of natural gas and electricity to the right bank of the Dniester. Since the beginning of the year, more than half of the electricity needed has been ensured thanks to imports from Romania. Meanwhile, Chisinau has started the steps to connect several localities in the security zone to the energy system on the right side of the Dniester, which are now connected to the gas and electricity networks of Transnistria.

     

     

    CATHEDRAL – The construction of the National Cathedral in Bucharest will be completed this year, in fall. On October 26, it is to be consecrated by Ecumenical Patriarch Bartholomew I of Constantinople and Patriarch Daniel of the Romanian Orthodox Church. According to the Patriarchy’s press agency, the event will also mark the 140th anniversary of the Romanian Orthodox Church’s recognition of its status as an autocephalous church and 100 years since it was elevated to the rank of patriarchy. The works on the cathedral are almost complete. This year, the cross on the main spire is to be installed. Other works are also needed, such as completing the interior installations or installing the exterior stained glass windows. At the same time, over 200 painters are working on the completion of the mosaic icons. In fact, the mosaic iconostasis on an area of ​​over 400 square meters is the largest of its kind in the Orthodox world.

     

     

    CULTURE – The President of the Romanian Cultural Institute and of the European Union National Institutes for Culture, Liviu Jicman, is in the United States, from January 10 to 17, for a series of meetings, in New York and Washington DC, with leaders of the cultural sector, the American administration and technology. Jicman will convey the message of the importance of culture and the arts in international relations, including transatlantic ones, and will advocate for the intensification of cultural-artistic partnerships between cultural institutions and personalities located in Europe and the United States. Liviu Jicman will also open, together with the Romanian Ambassador in the US, Andrei Muraru, the New York and Washington performances of the North American tour of the show inspired by Marin Sorescu’s novel “Vision of the Burrow”, performed by Simona Măcănescu and Mircea Florian. The show is performed on the occasion of National Culture Day both in the United States and in Canada, in Vancouver, with the support of the Romanian Embassy in the US and the Consulate General of Romania in Vancouver.

     

     

    LEGISLATION – The Bucharest Government will adopt, next week, the necessary legislation for the presidential elections, according to the calendar agreed on by the PSD-PNL-UDMR ruling coalition, with the first round on May 4 and the second on May 18. It is one of the priorities announced by Prime Minister Marcel Ciolacu in the most recent meeting. Another priority, Ciolacu said, is the completion and approval of the draft budget for this year by the end of the month, so that the document is debated and voted on by Parliament in the very first week of the Parliament’s session. The third major priority mentioned by Marcel Ciolacu is establishing the best way to continue supporting the population through capped prices for energy and gas, after April 1. At the end of March, the current support scheme expires, and its short-term extension – three or six months – was also mentioned by the Minister of Energy as an option. There are, however, other options to be considered, and the decision must be made by February 1.

     

     

    WILDFIRE – The American authorities have requested the evacuation of the Consulate General of Romania in Los Angeles, in the context of the severe wildfires that have mainly affected Los Angeles in the State of California, the Ministry of Foreign Affairs in Bucharest has announced. Thus, the consular office temporarily suspends its activity. Emergency consular services continue to be provided for Romanian citizens through a mobile consular team, which can be contacted at the emergency phone number of the Consulate General of Romania in Los Angeles: +13107210474. The MFA advises Romanian citizens who are in Los Angeles to follow the instructions of local authorities and to call the single emergency number 911 in case of imminent danger. So far, there are no reports of deceased Romanian citizens, and, at the consular office level, no requests for consular assistance have been received.

     

     

    VISAS – Romania’s inclusion in the Visa Waiver Program is seen in Romania as a formidable gesture of friendship from the United States, a gesture that comes to strengthen our common commitment to transatlantic security and prosperity. The statement was made by the Romanian Ambassador to Washington, Andrei Muraru, during the ceremony organized on Friday at the headquarters of the US Department of Homeland Security. According to a statement published on Saturday on the Embassy’s Facebook page, the US Secretary of Homeland Security, Alejandro Mayorkas, congratulated Bucharest for this successful journey and hailed the consistency and remarkable effort of the Romanian side.

     

    COVID – January 11 marked five years since the first officially confirmed death in China from COVID-19. The BBC reports that the first confirmed death from the pandemic was a 61-year-old man who visited a fish market in Wuhan, where the first outbreak occurred. The pandemic has since claimed over seven million lives globally. In Romania, over 3.5 million people have been infected and nearly 70,000 have died from COVID-19.

  • December 28, 2024 UPDATE

    December 28, 2024 UPDATE

    Election – The first round of the presidential election in Romania might take place on March 23, 2025, and the decisive round on April 6, the media in Bucharest announced on Saturday, citing political sources from the government coalition made up of the PSD-PNL-UDMR. Organized on time, on November 24, 2024, the first round was invalidated by the Constitutional Court of Romania (CCR), which, based on documents provided by the Supreme Council of National Defense (CSAT), invoked the interference of an unnamed state actor. Running in the second round, scheduled for December 8 were the independent nationalist Călin Georgescu and the opposition USR leader, Elena Lasconi. In the Diaspora, where the polling stations for the decisive round opened on December 6, tens of thousands of Romanians had already voted until the CCR decided to invalidate the first round. The costs of those invalidated elections is said to be almost 1.4 billion lei (the equivalent of about 280 billion Euros). On December 21, the second and last five-year presidential mandate of the current president, Klaus Iohannis, expired but his mandate was extended until the election of a new head of state, to be validated by the CCR.

     

    Ordinance – On Saturday, talks were held in Bucharest on the Emergency Ordinance regarding the reduction of public sector expenses, between the social-democratic Prime Minister Marcel Ciolacu and the representatives of employers’ associations and trade unions that are part of the National Tripartite Council for Social Dialogue. The union leaders believe that the freezing of salaries means a decrease in the incomes of the state employees, and the employers’ associations believe that the coalition government (PSD-PNL-UDMR) will manage to reduce the budget deficit next year, if it applies the measures included in the document. It stipulates that in 2025 state employment will be blocked, overtime will be compensated with free time, state salaries and pensions will be frozen. The government claims that it thus wants to reduce budget expenses by 19 billion lei (almost 4 billion Euros), i.e. 1% of the GDP, and, in parallel, to improve the lives of Romanians and maintain investment programs.

     

    Crime report – Romania is among the states with the lowest level of crime, offering a more favorable situation from this point of view than many Western European countries, shows a Romanian Interior Ministry (MAI) press release based on the reports of the US Department of State and the European Commission. According to them, Romania is recognized as a very safe country for citizens and tourists. In the ‘Report for American citizens traveling abroad’, Romania is indicated as having a low and very low risk of crime. According to the MAI, official international documents highlight Romania’s significant progress in combating crime, confirming its status as a safe country. In recent years, Romania has recorded figures below the European and international average for crimes such as robberies, thefts and other acts committed with violence, the press release also shows.

     

    Tennis – The Romanian tennis players Anca Todoni and Ana Bogdan on Saturday qualified for the main draw of the WTA 500 tournament in Brisbane. Ana Bogdan faced the Colombian Emiliana Arango in the decisive match, whom she defeated 6-2, 6-4, and will debut in the main draw in Brisbane against the Russian Anastasia Potapova. Anca Todoni won the match with Slovakian Anna Karolina Schmiedlova, 6-2, 6-3, and will debut in the competition against Cristina Bucsa from Spain.  The WTA 500 tournament in Brisbane (Australia), with total prizes worth more than 1.5 million dollars, will take place between December 29 and January 5.

     

    Gas – The Russian energy giant Gazprom announced on Saturday that it would suspend gas exports to the Republic of Moldova (ex-Soviet state with a predominantly Romanian-speaking population) from January 1, 2025, due to an alleged unpaid debt by the Moldovan authorities. The company claims that it reserves the right to take any action, including termination of the supply contract. Russia delivers to the Republic of Moldova about 2 billion cubic meters of gas per year, through Ukraine invaded by Moscow’s troops. The gas is transported through pipelines to the pro-Russian separatist region of Transndniester, which uses the gas to generate cheap electricity, which it then sells to the rest of Moldova. (LS)

  • October 24, 2024 UPDATE

    October 24, 2024 UPDATE

    AID The European Commission on Thursday approved a state-aid scheme of 400 million Euros in compensations for the Romanian farmers affected by the severe drought between September 2023 – August 2024, says a communique released by the commission. The aid scheme has been made available for the agricultural producers whose crops of wheat, barley, oat, rape, sunflower and corn were directly affected by the drought. In order to benefit the compensations, farmers must prove that at least 30% of their crops were affected between the autumn of 2023 and the summer of 2024. Under the aforementioned aid scheme, farmers will benefit from direct grants amounting to 200 euros per hectares in the case of losses of 100% and will not exceed 30% of the eligible costs. Compensations will be granted until December 2024.

     

    F-16 According to the Ministry of National Defence, three F-16 Fighting Falcons, Romania bought from Norway landed in Campia Turzii, central Romania, to join the 48 Fighting Squadron. We recall that another 9 F-16s had been received earlier. Romania has signed a contract of buying 32 F-16 fighters with the Kingdom of Norway and the entire batch is expected to be completed at the end of the next year. According to a communiqué from Romania’s Defence Ministry, the aforementioned jet-fighters are to ensure the transition to the fifth generation of aircraft, F-35, whose purchase actually represents a transfer of capabilities between two NATO allies.

     

    ENERGY The energy minister Sebastian Burduja promised that national gas storage is enough for Romania not to need natural gas imports this winter. He added that Romania is not importing Russian gas at all, and when imports are needed it resorts to Turkey and Azerbaijan. The Romanian official also added that the people who have difficulties paying their bills will still be protected, even after April 1, 2025, when natural gas and electricity prices will no longer be capped.

     

    ELECTIONS The campaign for the first round of the presidential election begins on Friday at midnight and ends at 7 am on November 23. The presidential elections are scheduled this year on November 24 (the first round) and on December 8 (the second round). In between, on December 1, the parliamentary election will be held. Competing in the presidential race are 14 candidates, 10 of them backed by political parties and 4 running independently. Local and EU parliamentary elections were also held in Romania this year, on June 9.

    (bill)

  • September 14, UPDATE

    September 14, UPDATE

    A roundup of local and international news.

     

    FLOODING – More than 5,000 households in several localities in Galati county (eastern Romania) were affected by floods, the General Inspectorate for Emergency Situations announced on Saturday. At least four people died and several hundred were evacuated. Also, in Vaslui County (east) there were floods in several localities, and dozens of people were evacuated. In several eastern counties, road and rail traffic were disrupted, and the electricity supply was interrupted. The authorities have announced that several camps will be set up for the citizens evacuated following the floods. The government specified that the residents of the flooded areas in Galati county, the most affected by the episode of severe weather and the consequences of the heavy rains, will receive water and food immediately, for a period of 7 days.

     

    WEATHER – The heavy rain created problems in the Republic of Moldova, in several districts near the border with Romania, as well as in the capital Chisinau, where a number of main streets in the city center were flooded, the authorities being forced to suspend the circulation of several public transport lines. There are also problems in other states in Central and Eastern Europe, after days of heavy rainfall. In the Czech capital, Prague, which suffered catastrophic flooding in 2002, flood barriers were erected. In the capital of Slovakia, Bratislava, there is a state of emergency following heavy rains. In Poland, due to the overflow of a river, the authorities decided to close a border crossing point with the Czech Republic, and it is not possible to drive on several national roads.

     

    DEFENSE – The U.S. State Department on Friday announced it has approved the sale of 32 F-35 Joint Strike Fighters to Romania in a deal worth roughly $7.2 billion. Romania’s deal for the Lockheed Martin-made F-35s will also include F135 engines made by Pratt & Whitney for each jet and a spare engine, the Pentagon announced. The Romanian Defense Ministry hailed the decision and specified that, in addition to the jets, the purchase would also provide logistics and maintenance support, navigation, communications and cryptographic equipment, ammunition and weapons, training for pilots and other personnel, and simulators. “Romania is a key NATO Ally in promoting security and stability in the Black Sea region and beyond. The F-35As will provide Romania with unparalleled air defense capabilities and enhance interoperability among NATO air forces”, U.S. Ambassador Kathleen Kavalec said.

     

    ENERGY – Romania’s natural gas deposits are full and the coal stocks are are at the required level. This is the conclusion of Friday’s meeting of the National Energy Command, convened by Energy Minister Sebastian Burduja. He specified that the problem is the significant fluctuation of energy prices in the short term, and one cause is the lack of interconnectivity between Austria and Hungary. The energy ministers from Romania, Bulgaria and Greece will present in about 10 days, to the Council of Ministers of the European Union, a preliminary plan for accelerating investments in interconnections, so that when energy is cheaper in one part of ​​Europe, the other part can also benefit similar prices. Romania continues to be the second largest gas producer in the EU.

     

    GERMAN BORDER – The Romanian Ministry of Foreign Affairs warns its citizens traveling to Germany to prepare for longer waiting times, because the government in Berlin has decided to extend temporary checks at all land borders to reduce illegal migration. As of Monday, in addition to the temporary checks already in place at the land borders with Austria, Switzerland, the Czech Republic and Poland, there will also be checks at the borders with France, Luxembourg, the Netherlands, Belgium and Denmark, for a period of six months. Romanians facing special situations can call the embassy’s hotlines in Berlin, as well as the Romanian consulates in Germany.

     

    FARMERS – Romanian farmers will receive a bigger advance from the European funds, the Agriculture Ministry in Bucharest announced. According to the institution, advances will be granted in the amount of 70% from the European Agricultural Guarantee Fund for direct payments and 85% from the European Fund for Rural Development, as a result of a derogation approved by the European Commission. The Romanian Agriculture Minister, Florin Barbu, has said that this will help farmers cope with the liquidity problems they face, in order to prepare for the new agricultural year. The Agency for Payments and Intervention in Agriculture specified that a budget of approximately 1 billion euros was allocated to cover these amounts and that it is making efforts to start payments on October 16.

     

    DRUGS – Three Albanian and three Romanian drug traffickers were detained by the Romanian law-enforcement agency DIICOT, after they were caught with approximately 4.5 kg of heroin. The drugs were prepared in a house in Ialomiţa county (south) and were intended for the Romanian market. The value of the heroin is approximately 50,000 euros. According to the Romanian Police, investigations began after two Albanian citizens entered the country on September 9, with the aim of trafficking a large amount of heroin. They then met with other members of the group in a house in Ialomiţa, where the drugs were mixed with additives, portioned and packaged. Later, the narcotics were distributed among the members of the group, according to DIICOT.

     

     

  • August 16, 2024 UPDATE

    August 16, 2024 UPDATE

    Gas – Romania currently has 2.8 billion cubic meters of natural gas stored in underground storages, which accounts for over 88% of the total storage capacity, given that, according to the European directives, the storages must be 85% full on September 1, the Energy Minister, Sebastian Burduja, announced on Friday. According to an Energy Ministry press release “daily, Romania produces approximately 25 million cubic meters of natural gas, consumes about half, and another 10 – 11 million cubic meters are stored”. Sebastian Burduja has also announced that Romania will continue to store natural gas until it reaches 100% of its storage capacity. According to him, the storage of natural gas for the winter season is all the more important since the neighboring Ukraine has announced that it will no longer extend the transit contract of Russian gas on its territory.

     

    Pensions – 4.6 million Romanian pensioners are to receive higher pensions by the end of the month. According to the Minister of Labour and Social Solidarity, Simona Bucura-Oprescu, over 80% of the pensioners are to benefit from recalculated pensions. Roughly two million are to get their pensions higher by 100 Euros. For more than one million the rises will range between 500 and 1,000 lei but 7,700 of them will see more than 3 thousand lei added to their initial pensions. Significant raises will see the people who worked over 40 years and didn’t benefit from the correction index of the past years. According to Minister Bucura-Oprescu, no pension cuts will be operated, and people will receive their recalculated pensions in September.

     

    Gymnastics – The Romanian gymnast Ana Maria Barbosu on Friday came into the possession of the bronze medal won in the floor final at the Olympic Games in Paris. The event took place in a ceremony organized on Friday on the esplanade of the Olympic House in Bucharest, following the decision of the Court of Arbitration for Sport. We remind you that, on August 5, in the floor final, Ana Maria Bărbosu was awarded the bronze medal for a few tens of seconds, but the American Jordan Chiles filed an appeal and her score was increased, so she finished in third position. Later, Romania also filed an appeal, which was finally approved. “I am happy to be in the possession of this medal and I hope to continue representing Romania at the highest level and to bring it as many medals as possible”, said the athlete.

     

    Migrants – 32 migrants were discovered, on Friday, hidden in a truck driven by a Romanian at the border point at Nădlac II, in Arad county in western Romania. They come, according to the border police, from Iraq, Bangladesh, Sri Lanka, Pakistan and Afghanistan and intended to fraudulently cross the border with Hungary in order to reach Western Europe. The truck driver is being investigated for migrant trafficking, and the citizens discovered are being investigated for attempting to cross the border fraudulently. According to the waybill, the driver was transporting furniture on the Romania-Italy route.

     

    Navy Day ‘Romania has been acknowledged and appreciated by its allies as a solid pillar of regional security and a major contributor to the process of strengthening NATO’s deterrence and defense posture on its eastern flank’ the Romanian president Klaus Iohannis said in Constanta, on the Romanian Black Sea Coast, where he participated in the events dedicated to Navy Day celebrated on Thursday. According to Iohannis, although we are living in times marked by multiple security challenges, in the context of the war Russia is waging on Ukraine, Romania is today a safe and stable country and its citizens are defended and protected against any potential threat. Thousands of tourists and citizens of Constanta gathered to watch the biggest naval show of the year, which involved the participation of over two thousand sailors and servicemen from Romania and the armed forces deployed here. The event was also attended by 15 military vessels, coast guard patrol boats, F-16 fighters, surveillance aircraft belonging to the USA and France, Puma Naval helicopters and paratroopers. (LS)

  • December 8, 2023 UPDATE

    December 8, 2023 UPDATE

    Memorandum — On Friday, the Romanian Government approved a memorandum regarding the increase in the transport capacity of natural gas and electricity to the neighboring Republic of Moldova (with a majority Romanian-speaking population). Thus, the Iaşi-Ungheni-Chişinău gas pipeline could be expanded, with the possibility of increasing the natural gas transport capacity. At the same time, they envisage to identify natural gas storage spaces in Romania, for the creation of emergency stocks for the Republic of Moldova. As regards electric power, the document provides for the construction of a new interconnection line. According to economic experts, in 2023, the volume of trade between the two states will be 2.8 billion dollars, similar to last year. Moldovas trade exchanges with Romania have doubled, especially against the background of the war started by the Russian Federation in Ukraine. Romania holds the highest share in the export of Moldovan products in all history, 32.9%, and the Russian Federation has reached a historic minimum of 3.5%.



    Corruption — In Romania, the former health ministers, Vlad Voiculescu and Ioana Mihăilă, on Friday went to the National Anticorruption Directorate (DNA) headquarters, where they were officially informed of the charges of abuse of office in the case of COVID-19 vaccine purchase during the pandemic period. While Voiculescu explained that he did not sign any contract regarding the purchase of doses, the decisions belonging to the prime minister at the time, Florin Cîţu, Mihăilă pointed out that the decision was made at government level, and the respective contracts were the result of negotiations between the European Commission and the vaccine manufacturers. Vlad Voiculescu believes that the accusations are a distortion of reality by a public institution, a unique investigation in Europe that investigates a decision of political opportunity. According to DNA, although the more than 37 million doses of COVID-19 vaccine contracted before January 1, 2021 would have been sufficient to immunize the Romanian population, the government led by Florin Cîțu approved the additional purchase of another 52 million doses, and the damage to the state was estimated at over one billion euros. The former PM Cîțu was previously also indicted in this case.



    Timişoara — In Timişoara (western Romania), the closing festivities of the European Capital of Culture program are in full swing. Until Sunday, concerts, shows, exhibitions, as well as the Gala – “Timişoara la nesfărşit”- ‘Timişoara forever’ are organized at the Big Hall of the National Theatre. This year, over 2,000 cultural events took place in Timişoara, with around 1.3 million artists and visitors, and 3,000 volunteers involved, and the city was visited by 850,000 tourists.



    Statistics – Almost 86% of Romania’s households have an Internet connection – according to the data published on Friday by the National Institute of Statistics. 93% of users are between 16 and 74 years old. Statistical data also indicate that the shares of people who use the Internet decrease with age. Thus, this year, almost all young people between the ages of 16 and 34 use or have ever used the Internet, while for those aged between 55 and 74, the percentage is 81. Last year, the share of people aged 16 -74 years who used the Internet was 89%, 2 % below the European Union average.



    IMF – The International Monetary Fund recommends Romania new measures through which to bring additional revenues to the budget, worth 2% of the Gross Domestic Product. Experts argue that the tax reform should target the value added tax and the income taxes paid by individuals, by eliminating tax exemptions and privileges. The IMF recommends, after the implementation of these measures, considering the reintroduction of the progressive taxation. Also, the new turnover tax should be reconsidered, because it is not in line with the good practices, show the conclusions of the Romanian economy assessment. (LS)

  • Romania’s gas reservoirs are full

    Romania’s gas reservoirs are full

    The gas level at Romania’s storage
    facilities presently stands at 100.6%, which means that our gas reservoirs are
    full to the brim, Minister of Energy, Sebastian Burduja, has recently announced
    in Bucharest


    With the quantities to be produced in
    the following months and because this winter is going to be warmer like in
    recent years, Romanians could make it to spring without needing to import more
    gas. In fact, Romania managed to fill its gas reservoirs although its gas
    imports were 16% lower in the first eight months of the year as compared to the
    similar period in 2022.


    According to Burduja, several
    scenarios are being considered for the cold season, including one in which
    Romania can support the neighboring, ex-soviet Republic of Moldova, or Ukraine,
    invaded by the Russian troops. According to the political analysts in Chișinău,
    in spite of an energy blackmail from Russia, the pro-Western government in the
    Republic of Moldova has already managed, with help from Romania, to avoid a
    deep social and economic crisis. Bucharest supplied Chisinau with electricity,
    while the latter managed to buy enough gas on the international market, which
    it transported through the Iași-Ungheni-Chișinău pipeline, built with Romanian
    and EU logistical and financial support. In a worst-case scenario in which this
    winter were a harsh one and the Republic of Moldova needed support, Minister
    Burduja has mentioned the alternative of importing gas from Azerbaijan or
    buying liquefied gas.


    On the other hand the effects of the
    Middle East conflict are already visible on gas and oil markets around the
    world and the Ministry of Energy intends to manage this situation through a
    series of mechanisms available, which also include the emergency reserves.


    As for the prices, Minister Burduja
    says these depend on many variables at the international level. According to
    specialized media sources, gas prices in Europe on Monday went down by 6.5%
    after last week’s 40 % growth against the favorable weather forecasts and the
    international efforts to keep the Middle East situation under control. For the
    Romanian consumers, the Minister says, the idea of maintaining the cap scheme
    is a wise decision against the present international background, including
    after the war that broke out between Israel and the terrorist Palestinian
    organization Hamas.


    (bill)

  • September 29, 2023

    September 29, 2023

    Notification — The Save Romania Union — USR and the Force of the Right, in opposition, intend to notify the Constitutional Court today about the coalition (PSD-PNL) governments taking responsibility for the package of fiscal-budgetary measures. The two parties claim that there are numerous violations of the fundamental law in the government’s document. The USR leader, Cătălin Drula, claims that principles of fiscal responsibility were allegedly violated. Moreover, the notification to the Constitutional Court will also include the observations of the experts of the Justice Ministry regarding the Governments measures, which minister Alina Gorghiu would have ignored when she issued a favorable opinion for the legislative proposal, Catalin Drula said. Initially, the opposition evoked a censure motion, and today is the last day when they could submit it, but it is unlikely that they will be able to collect the required number of signatures.



    Conference — The Speaker of the Romanian Senate, Nicolae Ciucă, is participating also today in the Conference of Presidents of Parliaments from the 46 member states of the Council of Europe, organized in Ireland, Dublin. On the eve, he had said that populism harmed democracy and endangered the civil rights of all. According to the Romanian Senate Speaker, in the context of the war on Romania’s border, the role of national parliaments in the reconstruction of Ukraine and the challenges to representative democracy in unstable times are topics of great interest for Romania, as an EU and NATO member country. He also spoke about Romanias role in supporting neighboring Ukraine, from where more than five million refugees came



    Meeting – The Romanian Foreign Minister, Luminiţa Odobescu, is participating, today, in the meeting of the heads of diplomatic missions from the EU member states accredited to Bucharest, organized by the Spanish Presidency of the Council of the EU. On the eve, the Romanian FM took part in the opening of the second edition of the international Euro-Atlantic Forum for Resilience, with the theme Resilience at Sea and its Impact on Land. She emphasized the relevance of the Black Sea region in the context of the Russian Federations war of aggression in Ukraine, a region with a special geopolitical significance, located at the epicenter of this conflict. Minister Odobescu stated that Romania acted and will continue to act in coordination with the neighboring states and strategic partners, so as to facilitate the transit of Ukrainian agricultural products through the Romanian ports.



    Gas – Natural gas and electricity tariffs on the Romanian market will continue to be subsidized until the end of March 2025, the National Energy Regulatory Authority -ANRE announced. Thus, Romanians will pay 68 bani (13 euro cents) per kilowatt for a monthly consumption of up to 100 kilowatts, 80 bani (16 euro cents) for a consumption range of 100-255 kilowatt, 1.3 lei (26 euro cents) for a consumption between 255 and 300 kilowatts, and for what exceeds 300 kilowatts – 1.3 lei for the entire amount. In the case of gas, the price for one kilowatt/hour will not exceed 31 bani (6 eurocents). The ANRE representative, Valeriu Steriu, stated that this measure brings predictability and is “a safety net” for the population and industrial consumers. He showed that the total amount reimbursed by the Romanian state to the energy companies that applied the capped price scheme, was almost 21 billion lei (about 4.2 billion euros) two weeks ago. Meanwhile, the Transgaz National Company announced that it has already stored an amount of gas that exceeds 96% of the total storage capacity. (LS)

  • The Week in Review

    The Week in Review

    Romanias Prime Minister, Marcel Ciolacu, and Foreign Minister, Luminița Odobescu, visited Chișinău



    Romania supports the start of EU accession negotiations for the Republic of Moldova as soon as possible, the Prime Minister Marcel Ciolacu said on Wednesday in Chişinău, on his first foreign visit since he took office. He emphasized that the future of the Republic of Moldova is in the community bloc. The Romanian side showed availability to provide expertise to the Moldovan partners. In his turn, the Moldovan Prime Minister Dorin Recean thanked Romania for all the support given to the Republic of Moldova in the process of joining the European Union, as well as in the economic and social fields. He emphasized that the relations on the two banks of the Prut River are increasingly being strengthened through the construction of bridges, roads and energy networks. Dorin Recean mentioned the existence of nine projects for the second installment of the aid provided by the Romanian Government. They are worth 28 million Euros and are aimed at investments for the development of localities in the Republic of Moldova, the Moldovan PM said. Early this week, the Romanian FM, Luminița Odobescu, paid a visit to the Republic of Moldova, her first external visit since taking-over her mandate. She was received by the pro-Western president Maia Sandu and had discussions with her counterpart Nicu Popescu. The two emphasized the support which Romania offered to the Republic of Moldova, consisting in humanitarian aid, energy resources and support for increasing resilience. Last but not least, the Romanian FM said that opening the EU accession negotiations for the Republic of Moldova in the shortest possible time is a priority of Romania’s foreign policy.



    Romanian magistrates protested, discontented with the prospect of being left without special pensions



    Magistrates from several courts and prosecutor’s offices across Romania suspended their activity on Wednesday, showing discontent with the Governments intention to change the conditions under which they can obtain special pensions. Judges and prosecutors argue that changing the special pension scheme would violate the independence of the judiciary. The ruling coalition made up of the Social Democratic Party – PSD and the National Liberal Party – PNL wants to gradually increase the retirement age for judges and prosecutors up to 65 years, and for the pension to be calculated based on their income from several years, not just from the last year of activity. The Justice Minister, Alina Gorghiu, said that she respects the magistrates’ right to free expression, but insisted that dialogue, not protest, is the solution to any problem of the judicial system. The reform of the legislative framework regarding the special pensions scheme is a promise made to the European Union by the Romanian authorities under the National Recovery and Resilience Plan. On the other hand, on Thursday, the draft law on the abolition of special pensions for senators and deputies received a favorable opinion, gathering a majority of votes, in the specialized Parliament committee. The president of the committee, the Social-Democratic MP Eugen Bejinariu explained that, if unconstitutional elements of the bill are identified, other solutions will be found to reduce or eliminate the special pensions of parliamentarians.



    Measures announced by the Romanian Government



    The prices of some basic food products may decrease in the next period, the Prime Minister Marcel Ciolacu announced on Thursday. He claims that this decrease will not put pressure on Romanian producers. Marcel Ciolacu stated that he received a response from the large store chains regarding the scheme for reducing markup percentages. It is a list that contains basic foodstuffs such as bread, dairy products, meat, eggs, flour, corn flour, oil, vegetables and fruit. Also on Thursday, the Government discussed, in a first reading, the state aid scheme for Romanian producers of construction materials. In principle, the authorities want more materials produced in the country to appear on the internal market at competitive prices, which will lead to a reduced import of construction materials. Now, over 70% of the materials used are imported, and the Government wants to reduce this percentage. This years budget for the aid scheme could be 150 million Euros, but the Finance Ministry will have the final say. The Executive also approved the granting of emergency aid to support the population affected by floods, landslides and dangerous meteorological phenomena, up to the amount of 1.4 million Euros. Households in the center, south-west and south of the country were affected, this month, by heavy rainfalls. The support and intervention of the military firefighters was needed to remove the negative effects generated by the bad weather.



    Development plan for gas deposits in the Romanian area of ​​the Black Sea



    OMV Petrom and Romgaz have approved the development plan for the Domino and Pelican Sud commercial natural gas fields in the Romanian area of ​​the Black Sea. The National Agency for Mineral Resources is to confirm this plan. The investment amounts to 4 billion Euros for the development phase, and the total production will be 100 billion cubic meters, the equivalent of the annual demand for natural gas for 4.3 million households. According to the management of OMV Petrom, in 2027, the first amounts of gas are to be extracted through the Neptun Deep project, and Romania will become the largest producer of natural gas in the European Union. The project will last approximately two decades, and the revenues brought to the state budget will support Romania’s development. OMV Petrom states that the estimated revenues of the Romanian state would be 20 billion Euros. (LS)

  • The Week in Review

    The Week in Review

    Romanias Prime Minister, Marcel Ciolacu, and Foreign Minister, Luminița Odobescu, visited Chișinău



    Romania supports the start of EU accession negotiations for the Republic of Moldova as soon as possible, the Prime Minister Marcel Ciolacu said on Wednesday in Chişinău, on his first foreign visit since he took office. He emphasized that the future of the Republic of Moldova is in the community bloc. The Romanian side showed availability to provide expertise to the Moldovan partners. In his turn, the Moldovan Prime Minister Dorin Recean thanked Romania for all the support given to the Republic of Moldova in the process of joining the European Union, as well as in the economic and social fields. He emphasized that the relations on the two banks of the Prut River are increasingly being strengthened through the construction of bridges, roads and energy networks. Dorin Recean mentioned the existence of nine projects for the second installment of the aid provided by the Romanian Government. They are worth 28 million Euros and are aimed at investments for the development of localities in the Republic of Moldova, the Moldovan PM said. Early this week, the Romanian FM, Luminița Odobescu, paid a visit to the Republic of Moldova, her first external visit since taking-over her mandate. She was received by the pro-Western president Maia Sandu and had discussions with her counterpart Nicu Popescu. The two emphasized the support which Romania offered to the Republic of Moldova, consisting in humanitarian aid, energy resources and support for increasing resilience. Last but not least, the Romanian FM said that opening the EU accession negotiations for the Republic of Moldova in the shortest possible time is a priority of Romania’s foreign policy.



    Romanian magistrates protested, discontented with the prospect of being left without special pensions



    Magistrates from several courts and prosecutor’s offices across Romania suspended their activity on Wednesday, showing discontent with the Governments intention to change the conditions under which they can obtain special pensions. Judges and prosecutors argue that changing the special pension scheme would violate the independence of the judiciary. The ruling coalition made up of the Social Democratic Party – PSD and the National Liberal Party – PNL wants to gradually increase the retirement age for judges and prosecutors up to 65 years, and for the pension to be calculated based on their income from several years, not just from the last year of activity. The Justice Minister, Alina Gorghiu, said that she respects the magistrates’ right to free expression, but insisted that dialogue, not protest, is the solution to any problem of the judicial system. The reform of the legislative framework regarding the special pensions scheme is a promise made to the European Union by the Romanian authorities under the National Recovery and Resilience Plan. On the other hand, on Thursday, the draft law on the abolition of special pensions for senators and deputies received a favorable opinion, gathering a majority of votes, in the specialized Parliament committee. The president of the committee, the Social-Democratic MP Eugen Bejinariu explained that, if unconstitutional elements of the bill are identified, other solutions will be found to reduce or eliminate the special pensions of parliamentarians.



    Measures announced by the Romanian Government



    The prices of some basic food products may decrease in the next period, the Prime Minister Marcel Ciolacu announced on Thursday. He claims that this decrease will not put pressure on Romanian producers. Marcel Ciolacu stated that he received a response from the large store chains regarding the scheme for reducing markup percentages. It is a list that contains basic foodstuffs such as bread, dairy products, meat, eggs, flour, corn flour, oil, vegetables and fruit. Also on Thursday, the Government discussed, in a first reading, the state aid scheme for Romanian producers of construction materials. In principle, the authorities want more materials produced in the country to appear on the internal market at competitive prices, which will lead to a reduced import of construction materials. Now, over 70% of the materials used are imported, and the Government wants to reduce this percentage. This years budget for the aid scheme could be 150 million Euros, but the Finance Ministry will have the final say. The Executive also approved the granting of emergency aid to support the population affected by floods, landslides and dangerous meteorological phenomena, up to the amount of 1.4 million Euros. Households in the center, south-west and south of the country were affected, this month, by heavy rainfalls. The support and intervention of the military firefighters was needed to remove the negative effects generated by the bad weather.



    Development plan for gas deposits in the Romanian area of ​​the Black Sea



    OMV Petrom and Romgaz have approved the development plan for the Domino and Pelican Sud commercial natural gas fields in the Romanian area of ​​the Black Sea. The National Agency for Mineral Resources is to confirm this plan. The investment amounts to 4 billion Euros for the development phase, and the total production will be 100 billion cubic meters, the equivalent of the annual demand for natural gas for 4.3 million households. According to the management of OMV Petrom, in 2027, the first amounts of gas are to be extracted through the Neptun Deep project, and Romania will become the largest producer of natural gas in the European Union. The project will last approximately two decades, and the revenues brought to the state budget will support Romania’s development. OMV Petrom states that the estimated revenues of the Romanian state would be 20 billion Euros. (LS)

  • June 22, 2023 UPDATE

    June 22, 2023 UPDATE

    TALKS Prices in the main food products in Romania could go down in
    the following period, the country’s Prime Minister Marcel Ciolacu has announced
    after the Executive talks on Thursday. Ciolacu says he has received answers
    from the main supermarket chains on the scheme to cutting down on the markup in
    the main food prices. The list includes staples such as bread, dairy, meat,
    eggs, flour, hominy, oil, vegetables and fruits. The Romanian government will
    continue to hold talks with the producers and suppliers of food products on the
    aforementioned scheme of curbing the markup. The Romanian ministers have also
    tackled another support scheme for the local producers of building materials so
    that they may produce good materials at competitive prices, which would result
    in lower imports. Roughly 70% of the materials used at present are imported and
    Bucharest wants to curb these imports. The support scheme’s budget this year
    could stay around 150 million euros, but the decision is with the Finance
    Ministry.






    VISIT Economic cooperation and handling the crises caused
    by Russia’s war in Ukraine were the main topics on the agenda of the talks held
    in Chişinău on Wednesday by the PM of Romania, Marcel Ciolacu, and of Moldova,
    Dorin Recean. The latter thanked Bucharest for the support given to Moldova in
    its EU accession efforts, and mentioned that bilateral relations are
    consolidated through the construction of roads, bridges and energy networks.
    During his visit to Chișinău, Marcel Ciolacu was accompanied by the Senate
    speaker Nicolae Ciucă.






    GAS The
    manager of OMV Petrom, Christina Verchere, Thursday said that in 2027 the first
    amounts of natural gas would be extracted through the Neptun Deep project,
    turning Romania into the largest natural gas producer in the EU. The statements
    were made at the government’s headquarters in Bucharest, where OMV Petrom and
    Romgaz made an announcement concerning the development of Neptun Deep, the
    largest natural gas project in the Romanian part of the Black Sea. Spanning 2
    decades, the project is expected to generate a gas output 30 times higher than
    the annual demand, which covers 4.3 million households. The estimated revenues
    to the Romanian state will be around 20 billion Euros. Neptun Deep is a major
    step for our 2030 strategy, aimed at supporting Romania’s and the region’s
    energy transition, the OMV Petrom executive added.




    INVESTMENT
    The European Investment Bank Thursday announced new funding for Romania. The
    total 675 million euros will go into transport, urban development and small
    enterprises. 600 million euros will be earmarked for the transport sector, to
    add to the EU recovery and resilience funding. The EIB Group and Romania mark
    30 years of partnership, with over 17 billion euros granted by the bank in more
    than 170 financing projects since the start of its operations in the country.
    Given the progress of Romania’s economy over the past 30 years, I am proud that
    the EIB Group was able to help, providing financing for better schools,
    hospitals, public infrastructure, universities and transport, and supporting
    climate action and small enterprises, said the EIB vice-president, Lilyana
    Pavlova, in an event in Bucharest. In turn, Marjut Falkstedt, chief executive
    of the European Investment Fund, emphasised that so far the EIF provided
    financial support to more than 56,000 Romanian enterprises.


    (bill&AMP)