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Liberal Govt. revives predecessors’ plans for Sovereign Fund

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The Government's decision to launch a Sovereign Fund might be published in the Official Journal within three weeks, announced Sebastian Bodu, an adviser to the prime minister's office. It is going to be an investment fund and not a development fund, he stressed, quoted by Agerpres.

The fund will be set up based on the Government Ordinance 100/2019 adopted last year by the Social Democrat Government. Therefore, the fund's name will include both "development" and "investment," but the fund will only be active as an investment fund, Bodu explained.

He mentioned the on-going talks about setting up a development bank, separately from the Sovereign Fund, and implied that the bank would take over the development function.

"This fund will focus on investments. It will be a private equity fund. It aims to acquire stakes in closed, unlisted companies," Sebastian Bodu said at a conference.

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