The minister delegate for European affairs, George Ciamba, received today, January 21, 2019, the head of the World Bank Office in Bucharest (country manager for Romania and Hungary), Tatiana Proskuryakova.
In the meeting, the Romanian official introduced Romania’s priorities during its Presidency of the Council of the European Union and highlighted our country’s interest in contributing to the process of strengthening the European project and bringing the EU closer to its citizens. The minister pointed out that the mandate of the Romanian Presidency would focus on promoting cohesion in all its three dimensions: political, economic and social.
George Ciamba emphasised the actions organised by Romania during its Presidency in fields that are relevant in the World Bank’s activities and assured the World Bank representative of the country’s complete availability to cooperate in common interest events.
The head of the World Bank Office expressed interest in maintaining a thorough dialogue with the Romanian side, with a view to supporting the Romanian Presidency of the Council of the EU to deliver on its mandate in the best possible conditions. To this end, she stressed the World Bank’s support and cooperation, starting from the institution’s global experience in providing public policy advice and implementing technical and financial advisory services programmes.
The discussions were also a good opportunity to analyse the main challenges that might hinder economic growth in our country.
The World Bank Group is made up of five international financial institutions: The International Bank for Reconstruction and Development (IBRD); The International Finance Corporation (IFC); The International Development Association (IDA); The Multilateral Investment Guarantee Agency (MIGA); The International Center for Settlement of Investments Disputes (ICSID).
The World Bank is one of the main sources of assistance in the field of development for countries across the world. Its mission is to eradicate poverty and improve the living standard of developed countries’ populations. The institution was founded on July 1, 1944, following the Bretton Woods Conference (USA), together with the International Monetary Fund. The Bank groups together 188 member states and is headquartered in Washington, D.C.
Romania is a member of IBRD (since 1972), IFC (since 1990), MIGA (since 1992), ICSID (since 1975) and IDA (since 2014). The activity of the World Bank Group in Romania, which started in 1991, consists both of IBRD-funded public programmes and projects, through direct loans granted to the state via the Ministry of Public Finance, and private projects, without any state guarantee, through IFC and MIGA support.