A China-backed investment fund for Central and Eastern Europe has USD 500 million for 16 countries in the region, and has included Romania among target markets.

The fund, called China-CEE Investment Cooperation Fund and created by the Export Import Bank in China, recently opened office in Romania. It plans to invest in renewable energy, in conventional energy and waste, in environment infrastructure, deposit and distribution capacities, among others.

It has already invested some USD 70 million in Poland, in energy company Polenergia. The fund also bought a stake in a private Hungarian university, BFK Ungaria.

The Romanian office is led by Octavian Vidu, CEE Equity Partners Investment Manager for Romania, which advises the investment fund. “We hope to identify dynamic companies with good management, and invest in them,” said Vidu about local investment prospects.

It’s not the only fund the Chinese have in plan for Romania. A second fund, this time double – USD 1 billion – is in plan for year-end.

editor@romania-insider.com