Commission for creation of Romania’s sovereign fund set up by PM Grindeanu

sorin grindeanuThe inter-government commission for the creation of Sovereign Fund of Development and Investments (FSDI) was set up through a decision of PM Sorin Grindeanu, says Business-Review.eu.

This commission is a consultative body, without juridical entity. It is formed by the representatives of the Economy Ministry, Public Finance Ministry, Energy Ministry and Labor Ministry and Social Justice, appointed through an order by the leaders of these public institutions, as well as a representative of the government body, appointed by the PM.

The commission is led by the representative of the Economy Ministry, who has the role of president. Its objective is to establish the legal framework of set up and functioning of the commission. The commission will set up a final report on the activity that needs the approval of the government.

On February 9, the government adopted a memorandum regarding the set up of this fund. According to it, the fund will have as objective the development and financing of profitable and sustainable investments projects, being a financing mechanism that will identify and materialize investments opportunities with impact in the economic development, as well as creation of new work places on long term.

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