The World Bank Group’s Board of Executive Directors endorsed a new five-year Country Partnership Framework (CPF) for Romania that will prioritize investments in people, support for vibrant private sector development and stronger preparedness in the face of natural disasters and climate change, the institution announced on Tuesday, June 19.

The strategy is selective in its approach to tackle Romania’s ongoing challenges and aims to address key issues affecting inclusive and sustainable growth, according to the World Bank.

“Stronger and more efficient public institutions are at the very heart of sustaining Romania’s long-term growth,” said Tatiana Proskuryakova, World Bank Country Manager for Romania and Hungary.

“Eradicating poverty and ensuring greater and shared prosperity for all Romanians will necessitate more and smarter investments in education, a modern health system and better jobs. Our Country Partnership Framework for 2018-23 will support critical areas to enable Romania to fully capitalize on its tremendous potential and ensure that no one is left behind,” she added.

The World Bank points out that, despite the high economic growth rates in recent years and the 11 years of EU membership, Romania has poor infrastructure, low investments and productivity and a high poverty rate.

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