The European Bank for Reconstruction and Development (EBRD) invested a record €955 million in 37 projects in Romania in 2025, a sharp increase from €707 million for 44 projects the previous year. The results underline Romania’s growing capacity to attract investment and its sustained commitment to green and privatesector led growth.
“This is our largest annual business volume on record in Romania since the EBRD began investing here in 1992 – a truly amazing demonstration for the trust of our clients, the dedication of our team and the strength of Romania’s economy,” said Victoria Zinchuk, EBRD Director of Romania.
Green financing was again central to the Bank’s work in the country. In 2025, 81 per cent of EBRD investments in Romania were dedicated to the green economy, significantly above the Bank’s average across all regions. Projects signed during the year are expected to deliver annual CO₂ emissions reductions of over one million tonnes, reflecting Romania’s accelerating alignment with EU climate and energy targets.
Among key green projects was the €192 million financing package signed in November for three major solar plants – Slobozia, Corbii Mari and Iepurești II – with a combined 531 MW of new capacity and around 676 GWh of annual green electricity generation. It benefits from the Contracts for Difference price stabilisation scheme that the EBRD has supported, marking a major step in Romania’s renewable rollout.
Another notable transaction was signed in May – a €180.3 million EBRD loan towards a €400.6 million financing package for a transformational regeneration project in Romania’s second city, Cluj-Napoca. The project will redevelop an industrial site into a combined retail, office, cultural and entertainment district, with major local infrastructure improvements.
The EBRD is a major institutional investor in Romania. To date it has invested more than €12.3 billion in 584 projects.
Republic of Moldova received 508 mln. in 2025
EBRD also invested €508 million in 19 projects in Moldova in 2025, almost double the €280 million invested across 14 projects in 2024 and close to Moldova’s all-time record of €525 million in 2022. EBRD investments in Moldova have accelerated since the start of Russia’s war on neighbouring Ukraine, with more than half of the total €3.0 billion since 1992 invested in the past four years.
“2025 was a landmark year for EBRD activity in Moldova, reflecting our deepening partnership with the country at a crucial stage of its reform and EU accession journey,” said EBRD Head of Moldova, Giuseppe Grimaldi. “We are proud to support Moldova’s efforts to build a more resilient, competitive and sustainable economy.”
Moldova’s EU integration effort is a major driver of reform and the EBRD’s investment results reflect this. The Bank’s portfolio remains strongly aligned with Moldova’s long term development priorities: 67 per cent is invested in sustainable infrastructure, 21 per cent in the corporate sector and 12 per cent in financial institutions, supporting the private sector.
Three key projects defined 2025 in Moldova
The EBRD expanded support for Moldova’s energy security programme, following earlier largescale assistance that has helped diversify the country’s gas and electricity sourcing away from Russia.
The Bank also financed major road and transport corridor upgrades, improving Moldova’s regional connectivity and strengthening links with Romania, Ukraine and the EU’s Solidarity Lanes.
The EBRD also continued to boost private sector competitiveness, with new financing for agribusiness and MSMEs and expanded credit line partnerships with local banks.
These investments build on the Bank’s intensified support since 2022. The EBRD is Moldova’s largest institutional investor, and since the start of Russia’s full scale invasion it has provided €1.6 billion to help Moldova mitigate the economic consequences of the war, strengthen its energy security, modernise infrastructure and support its private sector. Overall, the Bank has invested almost €3.0 billion in 196 projects to date.
The Moldova results form part of a record year for the EBRD overall, with a record €16.8 billion invested in 2025, up from €16.6 billion in 2024, including a record €2.9 billion deployed in Ukraine. The Bank operates in central and eastern Europe, Central Asia, the Southern and Eastern Mediterranean, and now also sub-Saharan Africa, and will publish full financial results for 2025 in the spring.
