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An investment fund established after the Polish model in Romania from privatization revenues could rise to 3 billion euros, Lucian Anghel, president of Bucharest Stock Exchange and CEO of BCR Pensions said at the Energy Breakfast Club, an event organized by energynomics. ro.
In Poland the state can invest between 20 and 49% in a project, and such lo fund can attract a cumulated private investment between 3 and 15 billion euros, keeping parities. This can finance projects in energy and infrastructure, said Anghel.
“If we add the last two years of IPOs and SPOs done by State (initial and secondary stock sales), we are close to 1 billion euros. The state could raise 3 billion euros from companies going public, and we can create an investment fund after Polish model that would attract both private investment and major institutional investors such as the EBRD or EIB”, said Anghel.
As a result of recent European legislation restrictions, and of Basel III banking regulation, banks cannot provide financing on more than 8-9 years, and such a fund could create the possibility of investing public money in the long term without influencing the budget deficit, 51% of projects being supported by international financial institutions and private investors.
Anghel gave the example of a Polish indebted company owned by the state, which used money from the fund to benefit from an old oil concession. Such a fund “is an alternative which we can implement, unfortunately its creation takes between 18 and 24 months, but we have to think long term”, said Anghel.
