Successful evaluation paves the way for alternative financing in Romania

A comprehensive evaluation conducted by Deloitte România and Reff & Asociații has enabled the Banca de Investiții și Dezvoltare (BID) to establish an alternative financing mechanism for strategic sectors in Romania. This achievement marks a significant step forward as part of the National Recovery and Resilience Plan, fulfilling an important milestone for the country.

The evaluation process, which examined nine critical pillars of the bank's operations, tested how the BID is structured and functions. It involved a multidisciplinary team of 33 specialists with expertise in audit, financial consulting, taxation, evaluation, risk, and regulation. Their collective efforts resulted in a detailed 400-page report, reflecting more than 4,000 hours of work.

Deloitte’s team included professionals such as Claudiu Ghiurluc and Andrada Tănase, alongside many others who contributed their skills to this rigorous assessment. The evaluation confirmed the bank's capacity to implement financial instruments supported by European Union funds, thus enhancing its role in the economic and social development of Romania.

Reff & Asociații also played a vital role in this complex process, with a team of financial and corporate law experts ensuring all legal aspects were thoroughly covered. The evaluation included essential components such as internal control systems, independent external audits, and compliance with public procurement regulations.

Raluca Nicolescu, the Director General at BID, expressed confidence in the evaluation's outcomes, while Claudiu Ghiurluc highlighted the team's ability to meet the stringent requirements set forth by the European Commission. This collaboration not only boosts BID’s operational capacity but also strengthens Romania’s access to crucial EU funding, fostering progress across various sectors.