BRA?OV, April 12, 2018 ¡ª ÐÓ°ÉÂÛ̳ Office in Romania and the Municipality of Bra?ov signed today a reimbursable advisory service (RAS) agreement ¨C a form of technical assistance - to support the implementation of urban development solutions that will boost growth and improve the quality of life for Bra?ov residents.
Bra?ov is a city with tremendous economic potential, but faces the challenge of ensuring effective planning, prioritization, design and execution of capital investments to generate better economic outcomes for its constituents.
¡°I am pleased to be in Bra?ov today for the signing of what is a very innovative and promising engagement ¨C working directly with cities in Romania¡±, said Tatiana Proskuryakova, ÐÓ°ÉÂÛ̳ Country Manager for Romania and Hungary. ¡°Bra?ov is an attractive urban area and we want to make sure it fully exploits its many economic and geographic advantages to be a bright spot of economic growth and development on Romania¡¯s map.¡±
ÐÓ°ÉÂÛ̳ will provide technical assistance to the Municipality of Bra?ov over a period of three years. The focus of this support will be to help Bra?ov leverage its strategic location and potential to reenergize its development model and spearhead innovation.
ÐÓ°ÉÂÛ̳ support will target three main areas:
- Strengthening capital investment planning and management with a focus on supporting improvements in project planning and delivery, financial health of the municipality, and development of a multi-annual investment program;
- Improving municipal asset management and urban regeneration by identifying underutilized assets that could be repositioned to advance the city¡¯s policy goals. In addition, support will be provided in the adoption of international best practices in urban development, as well as in addressing the rehabilitation of old-style neighborhoods;
- Enhancing the competitiveness of the metropolitan area with a focus on building local capacity to sustain an effective public-private dialogue to advance the city¡¯s development priorities, and create the ¡°Innovative Bra?ov¡± model, including piloting low-cost, innovative solutions at the city level.
ÐÓ°ÉÂÛ̳ opened its office in Romania in 1991. Since then, the Bank has provided over US$13.6 billion in loans, guarantees and grants in all sectors of the Romanian economy. The Bank¡¯s current portfolio includes investment lending, analytical work, and technical assistance to support Romania¡¯s reform priorities. In 2016, the ÐÓ°ÉÂÛ̳ Group and Romania celebrated 25 years of continued partnership in supporting poverty reduction and inclusive growth.
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For more information about the ÐÓ°ÉÂÛ̳'s work in Romania, visit: www.worldbank.org/en/country/romania
For more information on the ÐÓ°ÉÂÛ̳¡¯s work in Emerging Europe and Central Asia, please visit: www.worldbank.org/eca
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