On Thursday, the government will approve the founding act of the Investment and Development Bank of Romania. “This bank is the missing link between the money of international financial institutions and the strategic investment projects of Romania,” Prime Minister Marcel Čolaku said on Thursday.

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  • “Today we approve the act on the establishment of the Investment and Development Bank of Romania. For more than ten years, people have been talking about this bank, which exists in all European countries. Finally, we are building it too.
  • This bank is the missing link between the money of international financial institutions and the strategic investment projects of Romania.
  • In this way, we will have appropriate financial instruments for those projects that the country’s economy really needs.” the prime minister said on Thursday.

The authorized capital of the bank is 3 billion lei

The bank was established for an indefinite period as a joint-stock company managed under a dual system in which the Romanian state directly owns, through the Ministry of Finance, 100% of the share capital throughout the period of the bank’s activity, in accordance with the pre-foundation app.

  • SEE HG REGARDING BANK ESTABLISHMENT ACT

The Bank will be able to support and provide technical assistance to support the economic development of Romania and the relevant beneficiaries identified on the basis of preliminary market failure assessments.

At the stage of organization and operation, the management of the bank will rent premises for the headquarters, and in the next period will determine a suitable place for the activities of the credit institution, in accordance with the regulations of the National Bank. Romania.

The subscribed capital is 3 billion lei, of which the capital paid during the registration of the bank in the Trade Register is 119 million lei, and the difference will be paid in two annual installments until the end of 2024. , from the sources provided for in Art. 8 GD. there is no 1204/2022, and its level has dimensions in accordance with the requirements provided for in Art. 15 paragraph (4) of Law no. 207/2022.

The founding act contains provisions on the procedure for carrying out activities through the general meeting of shareholders, the supervisory board and the board of directors.

The BID is governed in a dual system by a Supervisory Board consisting of 7 members and a Directorate consisting of 3 members whose mandate is 4 years renewable, except for the first members whose mandate is 2 years and cannot be renewed.

The Ministry of Finance, as the sole shareholder, appointed the members of the management bodies in accordance with the provisions of GD no. 1204/2022.

The remuneration of members of statutory bodies consists of a fixed remuneration and is determined by mandate contracts.

The compensation of the first members of the statutory bodies of the BID is set by mandate contracts by the Ministry of Finance, as the sole shareholder, based on a business plan developed by the World Bank, which is based on a feasibility study developed by PwC. in 2019.

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