Cîțu: The Development Bank is part of a strategy to reorganize the entire package of state financial-banking companies

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The National Development Bank is part of a strategy to reorganize all the financial-banking companies that the state has and will be able to access, for example, funds from the Juncker plan, said on Thursday evening, the Minister of Finance, Florin Cîţu .

“The Development Bank, another state-owned bank when we have so many state-owned banks, is part of a strategy to reorganize the whole package of financial-banking companies that the state has. Why do we need it? Because as companies are built today, these financial-banking companies, none of them can access money from the Juncker Plan, for example. That’s a very big problem. Moreover, with a development bank, when you want to do an important, strategic, infrastructure project, for example, you don’t have to go to the EBRD (European Bank for Reconstruction and Development) or the EIB (European Investment Bank), you have your own source of financing. I guarantee you that it is part of a reorganization of the entire package of state-owned companies that Romania has today in such a way that all will have a liberal vision and all will be profitable,” Cîţu told Realitatea Plus, according to Agerpres.

The National Investment and Economic Recovery Plan, presented on Wednesday by the Executive, provides for the establishment of the National Development Bank of Romania, a full-fledged development institution, organized in the form of a joint stock company, based on a separate normative act.

BND will be a bank wholly owned by the state, through the Ministry of Public Finance and will carry out financial activities, especially in its own name and account, within the object of activity authorized by the National Bank of Romania (BNR), but also with a mandate from the state, for activities such as the Holding Fund Manager and those within the Three Seas Initiative Fund, according to the provisions of Government Emergency Ordinance no. 99/2006 on credit institutions and capital adequacy.

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