EBRD invested €350 mln in Romania in 2007

Some 40 percent of this amount was intended for investments in companies, 35 percent for the financial sector, and the remainder for energy, added Descamps. Concerning investments next year, Descamps believes the amounts could be much higher than in 2007, provided that a number of projects being discussed are initiated. At least one third of future investments will be used for energy.

“We will offer €100 million to finance projects for energy efficiency of small and medium-sized entrepreneurs. We will work with Hidroelectrica and other companies who have important rehabilitation programs,” said the EBRD Director. He added that EBRD is also interested in renewable energy projects.

On Friday EBRD announced its appointment of a new Director for Romania, Claudia Pendred, who replaces Hildegard Gacek. Prior to this appointment, Claudia Pendred was Director of Corporate Finance at N.M. Rothschild & Sons investment bank, where she was responsible for utilities in Central and Eastern Europe, and also worked on a variety of projects in others sectors, including natural resources, infrastructure and telecommunications. She also worked at J. Henry Schroder Wagg & Co, and with UNICEF and the World Bank earlier in her career.

According to EBRD’s new Director for Romania, the bank will focus on investments in the private, energy and infrastructure sectors in the coming three years.