A modern cohesion policy

Romania’s road to better investments

Romania, known for its rich history and vibrant culture, is stepping up its expertise in the areas of investment and development. The country has launched the Romanian Investment and Development Bank to support small businesses and sustainable development.

The establishment of the new bank is part of the country’s National Recovery and Resilience Plan that supports projects and attracts investment in three key areas: small business competitiveness, infrastructure and the green transition. One focus in the early stages will be providing a portfolio loan guarantee that allows local banks and other institutions to give more financing to small and medium businesses, making it easier to find loans that will help them expand and become more competitive. The new development bank will also invest in crucial projects such as water management and local government infrastructure.

To help meet its goals, the bank requested support from EIB Advisory experts under the InvestEU Advisory Hub. These experts helped develop the Romanian bank’s investment and lending strategy and are providing training to ensure that the new staff members have the necessary knowledge and skills.

The new Romanian bank comes at a time when the country is taking big steps to improve local infrastructure. Romania expects to receive substantial European Union funds for the 2021-2027 period, especially through the bloc’s cohesion policy and national recovery plan. These funds will help modernise Romania’s water systems, local roads and other key services. A large portion of these funds will include a requirement that Romania finance a percentage of each project itself, and this is where the Romanian Investment and Development Bank is expected to play a crucial role.

Romania’s development bank aims to support more than local projects. It wants to become a holding fund for EU financial instruments that are shared between the European Commission and national authorities. This would allow the bank to manage EU funds more effectively and distribute them to local projects that drive Romania’s growth.

A hub for innovation

Bulgaria wants to bolster its innovation to reach the levels seen in other parts of the European Union. To offer more support for startups and tech companies, increase investment in research and development and foster a culture of innovation, Bulgaria is setting up research hubs that will be known as Centres of Competence and Centres of Excellence. The 19 centres, located in Sofia and across the country, will attract highly qualified scientists to conduct research in various fields, such as engineering, clean technologies, IT, healthcare and biotechnologies.

EIB Advisory experts under JASPERS assisted the centres in preparing development and sustainability programmes, complete with business plans that are necessary to get funding from the European Union through a programme called Research, Innovation and Digitalisation for Smart Transformation. European Investment Bank experts are helping the centres meet national guidelines and adapt best practices in the research, development and innovation sector. JASPERS, which stands for Joint Assistance to Support Projects in European Regions, is one of the European Investment Bank’s largest advisory programmes and is co-financed with European Commission funds from the Directorate-General for Regional and Urban Policy.

The new plans will help the centres improve Bulgaria’s research and innovation ecosystem, enhance the country’s knowledge in these fields and produce more scientific accomplishments. The advisory support helped the centres understand the various sources of funding for their research, optimise equipment utilisation, conduct more private sector collaboration, and improve governance, management and expertise. The centres will attract and retain talent in Bulgaria, and they will increase the sharing of knowledge and technological resources.