World Bank Group President David Malpass will travel to Romania this month for a two-day visit set to start on April 13.

According to a press release, this will be Malpass' first trip to Romania as President of the World Bank Group.

"In these turbulent times in the region, we are ready to support Romania as it hosts refugees fleeing from Ukraine and work with the authorities to improve living standards for all Romanians," David Malpass said.

During the visit, Malpass will meet with the authorities and partners of the World Bank Group in Romania. He will also visit a World Bank-supported project in the education sector with a focus on supporting the Roma population.

Joining David Malpass on his visit will be Anna Bjerde, World Bank Vice President for Europe and Central Asia, Gallina A. Vincelette, World Bank Country Director for the European Union, and Ary Naim, IFC Regional Manager, Central and Southeast Europe.

David Malpass was selected as the 13th President of the World Bank Group by its Board of Executive Directors on April 5, 2019. His five-year term began on April 9. He previously served as Under Secretary of the Treasury for International Affairs for the United States.

The World Bank's active portfolio in Romania is composed of nine investment projects totalling USD 1.78 billion, and Advisory Services and Analytics tasks amounting to USD 124.62 million.

As of February 15, IFC's committed portfolio was USD 1.04 billion in over 30 projects, of which 55% represented investments in financial institutions, and the remaining 45% in the real sector. IFC's outstanding portfolio stands at USD 954.48 million, and its committed own account portfolio in Romania ranks first in the newly created IFC Europe region.

irina.marica@romania-insider.com

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