Promoting Green Finance through Multilateral Development Banks - The Experience of Romania

Claudia Gabriela Baicu () and Iulia Monica Oehler-Șincai ()
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Claudia Gabriela Baicu: Department of Economic Integration and Financial Markets Institute for World Economy
Iulia Monica Oehler-Șincai: Department of International Economic Analysis Institute for World Economy

Global Economic Observer, 2023, vol. 11, issue 2, 49-54

Abstract: Achieving the ambitious climate goals established on the international agenda for boosting sustainable development involves significant financial resources. Therefore, the funds allocated by the financial system for green investments should increase globally. Against this backdrop our paper investigates the role of multilateral development banks in promoting green finance, with focus on Romania. The research results underline their engagement to combat climate change and to support sustainable development. The European Investment Bank, The European Bank for Reconstruction and Development and the International Finance Corporation have major contributions in financing green projects in Romania in areas such as energy efficiency, green building, clean transportation, sustainable agriculture. To this end they established some partnerships with Romanian financial institutions, granted financing facilities, invested in the green bonds issued by local banks, provided technical assistance. However, our main finding shows that green finance in Romania is still limited, requiring increased commitments in this area, including from multilateral development banks.

Keywords: climate change; green finance; multilateral development banks; sustainable development; Romania (search for similar items in EconPapers)
JEL-codes: G21 G22 G23 G28 Q56 (search for similar items in EconPapers)
Date: 2023-12
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Persistent link: https://EconPapers.repec.org/RePEc:ntu:ntugeo:vol11-iss2-49-54

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