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Gov't approves establishment of Investment and Development Bank

The Government approved on Thursday the articles of association of the Investment and Development Bank - S.A..

According to a Government press release, Romania has committed itself through the National Recovery and Resilience Plan to operate the Investment and Development Bank, thus the act of incorporation of the Bank was approved by decision.

"The mission of the Investment and Development Bank - S.A. is to support strategic projects that cannot find financing in the usual banking system, and its activity will be carried out in compliance with the legislation on state aid. The subscribed share capital of the Bank is 3 billion lei. The Bank will be managed in a dual system, by a Supervisory Board consisting of 7 members and a Management Board consisting of 3 members," the press release reads.