Garanti Bank Romania will grant financing worth a total of €22.5m to small and medium-sized companies, especially those owned or managed by women. This follows a loan agreement concluded with the International Finance Corporation, part of the World Bank. The IFC said in a statement that this was the first loan they have granted to [...]
The Romanian Payments Agency for Rural Development and Fishery will open a €176m financing line for those who want to plant forest on agricultural lands in Romania. The funding will depend on the geographical region where the forest is planted. Potential beneficiaries have to own at least 5,000 sqm of agricultural land. The first session [...]
Alexandru Nazare, Romania’s minister of Transportation announced that the European Commission (EC) has approved two major railway infrastructure projects worth €900m. The European funds will be used to upgrade 110 km of railway in Western Romania.
According to Business Review, Indian carmaker Tata Motors is currently negotiating with local authorities in Cluj its entry on the Romanian market via an investment in the Tetarom 3 industrial park in Jucu.
According to Business Review, IT company Endava posted a 60% growth of its business in Romania in 2011, up to a turnover of €9.2m, a quarter of the company’s sales being achieved locally. The company also raised by 33% the number of employees in Cluj-Napoca, Iasi and Bucharest. Endava has recruited other 50 people during [...]
Balkans.com, IFC is providing a €50m loan to leading food retailer Schwarz Group to help the company expand its Lidl chain of discount grocery stores across Romania, giving residents of smaller centers a cost-effective place to shop for quality food. The Schwarz Group will use IFC’s financing to enter new markets, particularly in cities with fewer [...]
AFP, The International Monetary Fund (IMF) and the European Union trimmed Romania’s 2012 growth forecast to 1.5%-2.0% due to international economic turbulence. ” For 2012 we have slightly revised down our forecast in light of the more difficult economic environment in the Euro area,” the IMF’s representative Jeffrey Franks declared. “We now project growth of [...]
Balkans.com, German automotive parts maker Bousch will invest €77m in a new plant in Romania, in an industrial park near Cluj. Bosch will employ about 300 people. Bosch’s decision to invest in Cluj will fill the gap left by the closure of Nokia plant last year. De’Longhi bought Nokia’s site and promised to invest [...]
Balkans.com, Real estate consultancy DTZ Echinox declared that Romanian real estate transactions could more than double to €550m this year after falling 13% to €263m in 2011.
Balkans.com, The economic and financial crisis continued to disrupt the Romanian car-making industry during 2011. Various sectors of the industry have seen different decrease rates as domestic market sales reported a nearly 8% drop compared to 2010, the output dropped by 4.5% and exports went down by 3.1%.
