Set up in April 2013, the Commission for European Funds was established as an immediate answer of the banking community to the need to accelerate involvement in supporting the process of absorbing European funds, a driver of economic growth and development.

Made up of the banking sector’s best experts in European funds, the Commission intends – by turning to account the expertise acquired to date as regards project management – to provide efficient communication with the authorities involved in the operational management of programmes benefiting from EU funds.

Besides its operational role in supporting projects benefiting from European funds, by confirming the bankability of potential beneficiaries – via issuing comfort letters, guaranteeing the advances needed in grants, granting loans pre- and co-financing etc. – the banking sector is prepared to support projects benefiting from European funds in all the development stages of such projects, including but not limited to fostering the creation of favourable prerequisites for the development of financial instruments that support investments, more efficient information flows and generalizing the expertise acquired.

“We across the banking sector are aware that, via very good communication with all those in charge with the mechanism of European funds in Romania and by understanding correctly the aspects that must be realigned in the mechanism for the implementation of European funds, we can bring about a certain development of the Romanian economy that would confer banks in the sector both the premises of supporting the investment projects of their own customers as well as sustainable macroeconomic development”

– Ramona Ivan – President, Commission for European Funds