Energy sector gets $85 million

The World Bank (WB) next year will grant Romania an $85 million loan to cover part of the funding required by a $110m project aimed at the energy market and at retooling the electrical power transport system, Andrew Vorkink, WB’s director for Central and Southern Europe said. “This project will contribute to sustained improvement of the energy system safety and to meeting the European standards,” Vorkink said. The Donor Conference was held in Bucharest throughout December 16-18, and representatives of several international institutions such as the World Bank, IFC-World Bank’s investment arm, the European Bank for Reconstruction and Development, the European Investment Bank and the European Union met with Romanian officials and with Romanian energy authorities, to find new investment projects. “We will focus on the other two energy system components, namely production and distribution over the next few days. We will take part in improving the infrastructure in the urban and rural areas, and discuss with the other donors to see what they can do for the development of Romania’s energy system,” Vorkink said. ZF