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Burduja (MFP): It will be probably a minimum of 2 years before the National Bank for Development gets back on its feet
The National Bank for Development will need at least two years to ‘ be back on its feet’ Romania being the last country in the EU which does not have such a bank for development, stated on Wednesday Sebastian Burduja, state secretary in the ministry of public finances during the second edition of the Summit of Funds Administrators.
‘There is much work to do. There were many ideas what Romania might need and we try to make them work. On the one hand, we have the Romanian Fund for Investments, on the other hand we have the National Bank for Development. Both are complex projects. The National Bank for Development will last probably at least two years before it gets on its feet. Similarly, the Romanian Fund for Investmnts which should be a partner and which should have been built, does not exist. We have started this project as well and we are looking for various possibilities of institutional design, of institutional set up so that the construction be viable’ , Sebastian Burduja said.
He mentioned that the government understands the idea of supporting the private
environment, to support investments and the budgetary execution at eight months has a record of investments, 22 billion lei. ‘ For everybody to understand, at the most difficult moment in the economy over the last ten years, Romania has a record of expenses, of money spent for investments during these months. Similarly, European funds. In the last 11 months, as compared to the previous months, and it is on purpose I mention this period, it was possible to absorb 2.6 billion lei, against 1.1 billion lei’ Sebastian Burduja said.
He stated that in order for Romania to develop there is need for innovation, the cities need to be connected in the periurban area, it is need for environmentally friendly investments, and an element of smart protectionism through which Romania should produce what is necessary.