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Dec 08, 2017 18:00 EEST
December 8 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said on Friday that it is committed to work with the Romanian authorities to develop priority infrastructure projects in the country.
During a working visit to the EBRD headquarters in London, Romania's transport minister Felix Stroe discussed with EBRD managing director for infrastructure, Jean-Patrick Marquet, about the urgent need to develop the country's infrastructure, the EBRD said in a press release.
Discussions focused on the transport master plan, road-building and projects in the railway sector.
The two officials discussed financing for the planned East-West motorway, which will connect the city of Iasi in eastern Romania with Targu Mures in the north-central region.
Another project on the table was the planned Bucharest Metro Line M6, which will link the capital’s northern railway station, Gara de Nord, to the Henri Coanda International Airport.
"Transport infrastructure probably constitutes one of the weakest areas of the business environment in the country but is vital for Romania’s development. We are certain that today we established a very strong basis for future cooperation in this crucial economic sector," Jean-Patrick Marquet said.
The two officials also talked about the need of technical assistance to improve the performance and efficiency of state-owned enterprises in the transport sector.
"In particular, we need the EBRD’s experience and expertise in restructuring state-owned enterprises, to make them more efficient and effective and help them meet the private sector’s performance levels," minister Felix Stroe said.
The EBRD is a leading investor in Romania and to date has invested 7.5 billion euro ($8.84 billion) in some 400 projects in the country. In 2017, the Bank has signed more than 20 projects worth a total of over 400 million euro.
According to the EBRD’s latest economic forecast, Romania’s economy will grow at 5.3% this year and 4.2% in 2018, enjoying a growth rate comparable to the pre-crisis levels of the mid-2000s.
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