Romanian Finance minister elected vice-president of EBRD

Anca Alexe 18/02/2019 | 07:48

Romania’s Finance minister Eugen Teodorovici has obtained one of the two vice-presidential mandates at the European Bank of Reconstruction and Development (EBRD), along with the Lithuanian Finance minister.

The new elected president of the EBRD Governors’ Council will be the Finance minister from Spain.

Teodorovici also holds the presidency of the Governors’ Council of the European Investment Bank (EIB) and the Economic and Financial Affairs Council (ECOFIN) as part of Romania’s Presidency of the Council of the European Union.

“It is the first time since Romania joined the EU when a Romanian official simultaneously holds the highest roles in the three prestigious European institutions,” the Finance Ministry wrote in a statement.

EBRD is owned by 67 countries in five continents, as well as the EU and EIB. It has invested in 429 projects in Romania, totalling over EUR 8 billion, both in the private and public sectors, in areas like energy, transport, municipal infrastructure and financial institutions. Its current portfolio is worth around EUR 1.9 billion. Romania has been a member of the EBRD since 1991.