According to the institution’s project, the authorities are taking a new step to create the Bank for the Development of Romania (BDR), a credit institution that will be 100% owned by the Romanian state through the Ministry of Finance (MoF). .

Project on the establishment of the Development Bank of Romania– click to open

The role of the bank is to serve Romanian enterprises and other organizations belonging to the public and private sectors of Romania in order to support the financing of projects that contribute to the economic and social development of the country, increasing competitiveness, innovation and the economy. growth, as well as increasing the development of European funds.

According to the rationale, the initial share capital subscribed by the shareholder through the Ministry of Finance is up to 3 billion lei, which will be secured by privatization revenues, except for an amount equivalent to 10 million euros. , which will be paid from the state budget, within the limits of the amounts approved for these purposes in the budget classification unit related to programs of grant funding from the National Recovery and Resilience Program.

Establishment costs of the bank, remuneration of the first members, conclusion of a contract for auditing services necessary to verify the forecasted financial statements of the bank, payment of expenses for rent related to the bank’s head office, including the bank’s logo, until the time of registration of the Bank in the Trade Register from the budget The Ministry of Finance up to the amount of 6.8 million lei, and later will be reimbursed by the shareholder after the establishment of the bank, by concluding a loan agreement for this purpose.

In addition to state budget funds and/or proceeds from privatization, BDR can also use other sources of financing, such as interest income and commissions for the activities provided, loans obtained from various entities in the domestic and international financial markets, funds that can to be entrusted on the basis of the mandate of public administration bodies and/or within the framework of investment initiatives at the level of the European Union, subordinated loans and other sources approved by the decision of the Government.

During operations, the income received by BDR will be used to cover operating expenses, any surplus will be reinvested in the development of its activities, during the first 5 years of operation, no dividends will be paid to the shareholder.

For the activities carried out by the bank on its own behalf, the State of Romania, through the Ministry of Finance, guarantees obligations of the nature of the principal, which the bank participates on behalf of and at its own expense, as well as guarantee obligations accepted by the bank (for products of the type of individual guarantees and portfolio ), in a situation where these guarantees are not guaranteed by any other collateral guarantee by the beneficiary. The annual maximum amount of guarantees issued by BDR will be established by a Government decision based on a shareholder’s proposal.

Who will manage the new bank?

The management of the bank under the dual system is carried out by the Supervisory Board, consisting of 7 members, natural persons, of which no more than 1 member can be from among civil servants or other categories of personnel of state bodies or institutions, as well as the Board of Directors, consisting of at least 3 members .

Members of the Supervisory Board are appointed by the general meeting of shareholders, with the exception of the first members who are appointed by the shareholder by the founding act, and their powers begin from the date of the Bank’s registration in the National Trade. registry office

The members of the Directorate are appointed by the Supervisory Board of the Bank, with the exception of the first members, who are appointed by the shareholder through the founding act, their powers begin from the date of the Bank’s registration in the National Trade Register. Office.

The term of office of the first member of the Supervisory Board is 2 years.