WB to provide technical assistance for better public investment practice in Romania

Darius Valcov, the new Minister Delegate for Budget signed an agreement with the World Bank for receiving technical support in a project aimed at improving public investment management.

“The object of this agreement is the improvement of the management of public investment and the setting up of support tools for a more efficient use of budgetary resources, thereby helping to decongest the fiscal space which could be used to finance public investment priorities, as well as to co-finance investment projects supported by EU funds”, is explained in a press release of the Ministry of Finance.

It further states that a better budgetary planning and prioritized public investment will provide necessary resources for co-finance such projects as the public funds will be properly allocated, avoiding any waste, thus contributing to an effective, efficient and transparent financing absorption, as well as to the better use of European structural and investment funds in terms of quality, relevance and implementation rate.