2024-12-29-世界银行-罗马尼亚——25财年至29财年国家伙伴关系框架（英）_125页_5mb

COUNTRY PARTNERSHIP FRAMEWORK FOR ROMANIA (FY25 - FY29) Summary

Core Content

The Country Partnership Framework (CPF) for Romania (FY25 - FY29) outlines the World Bank Group (WBG) strategy to support Romania's development goals, focusing on inclusive and sustainable growth, institutional strengthening, and private capital mobilization. It reflects Romania's position as a high-income country (HIC) that has made substantial progress in economic convergence with the EU, but still faces significant challenges in reducing disparities and enhancing resilience to global issues such as climate change and natural disasters.

The CPF aligns with the National Recovery and Resilience Plan (NRRP), which outlines six pillars of reform and investment, including the transition to a green economy, digital transformation, and improving social and territorial cohesion. The WBG aims to contribute to these goals by leveraging its comparative advantage, deploying innovative financial instruments, and enhancing its partnership with the Government of Romania (GoR).

Main Objectives

The CPF supports three High-Level Outcomes (HLOs):

1. Improved human capital outcomes
2. Better jobs in a more competitive economy through unlocking private investment
3. Increased resilience and an accelerated green transition

The framework also emphasizes the transversal focus on institutional strengthening to serve all people and businesses, and it prioritizes climate mitigation and adaptation, digitalization, and private-sector-led productivity and employment growth.

Key Points

• Economic Performance: Romania has shown strong economic growth and convergence with EU income levels since joining the EU in 2007. It is now classified as a HIC, but faces challenges in productivity and economic resilience.
• Poverty and Inequality: Romania has the highest poverty rate in the EU, with significant disparities between urban and rural areas, and between leading and lagging regions. These disparities limit intergenerational mobility and hinder inclusive growth.
• Development Agenda: The NRRP outlines six pillars of reform and investment, focusing on green economy, digital transformation, and social cohesion.
• WBG Role: The WBG will use a One WBG Approach, combining the strengths of IBRD, IFC, and MIGA to create innovative solutions and support Romania's development goals.
• Selectivity Criteria: The CPF will prioritize interventions that generate the greatest impact, align with client priorities, and contribute to global public goods (GPGs) such as climate resilience and sustainable development.
• Mobilizing Private Capital: The CPF emphasizes the need to mobilize private capital at scale to achieve Romania's development goals, particularly in the green and digital transitions.
• Fiscal Challenges: Romania has a high structural fiscal deficit and faces challenges in efficiently allocating public and EU funds. The CPF aims to improve fiscal sustainability and support the absorption of EU resources.
• Institutional Strengthening: The CPF supports the strengthening of institutions at the national, subnational, and market levels, which is essential for sustainable growth and development.
• Climate and Resilience: Romania is at high risk of natural disasters such as earthquakes and floods. The CPF prioritizes climate resilience and decarbonization as key to sustainable development.

Key Instruments and Approaches

• IBRD: Will focus on strengthening institutions, advancing foundational reforms, and supporting private-sector growth through a balanced use of lending and advisory instruments.
• IFC: Will prioritize financial innovation, including green, blue, and sustainability-linked bonds, and support public-private partnerships (PPPs) in strategic sectors.
• MIGA: Will provide guarantees and credit enhancement solutions to improve financing terms for priority PPPs and public projects, especially those with a climate angle.
• One WBG Approach: Will be deployed to maximize synergies between the WBG institutions and enhance the impact of the CPF.
• MfD (Maximizing Finance for Development): Will guide the WBG to leverage public and private financing for the CPF objectives.
• RAS (Reimbursable Advisory Services): Will be used to support transformational and programmatic engagements, enabling knowledge generation and spillovers.

Conclusion

The CPF for Romania (FY25 - FY29) is a strategic document that outlines the WBG's role in supporting Romania's development agenda, with a focus on inclusive growth, private capital mobilization, and climate resilience. It reflects the country's commitment to the European Green Deal (EGD) and its need to address persistent structural challenges to achieve long-term prosperity. The framework is designed to enhance the effectiveness of the WBG's interventions, ensure alignment with the GoR's priorities, and support Romania's integration into the EU and global development frameworks.