June 2, 2003
NEW U.S. GOVERNMENT FUNDS TARGET ROMANIAN SMALL BUSINESSES
Date: June 3, 11:00 a.m.
American Cultural Center, 7-9, Prof. Dimitrie Gerota (ex. J.L.Calderon), Bucharest
U.S. and Romanian Government Officials will launch the U.S. funded "Enterprise Development and Strengthening (EDS) Program" at the American Cultural Center on Tuesday, June 3, 11:00 a.m.
The U.S. Ambassador, Michael Guest, will announce the $15.8 million, five-year EDS project. Minister of Small and Medium Enterprises, Silvia Ciornei, Minister of Public Finances, Mihai Nicolae Tanasescu, and Minister of Justice, Rodica Stanoiu, will give opening remarks. Other high representatives of the Ministries of Tourism, Development and Prognosis, Industry and Resources, Labor and Social Solidarity, and international donor organizations will attend the event.
"We hope that this program will play a key role in Romania's transition to a healthier, more conducive, and transparent business environment leading to a vibrant and productive economy," Denny Robertson, USAID Mission Director, stated in his welcome remarks. "It will help companies generate wealth and increase their important contribution to society through the 70,000 jobs the project will create and sustain".
The United States Agency for International Development (USAID) launches this ambitious initiative that integrates three principal areas of activity: (1) improvements to the legal and regulatory environment for private business, (2) enhanced competitiveness of Romanian small business and their capacity to enter export markets and obtain foreign investment, and (3) increased access to credit making available additional $20 million private funds in loans to small and medium enterprises.
With Cooperative Housing Foundation as coordinator, the program will be implemented by a group of organizations with many years of experience world-wide and in Romania including Booz Allen Hamilton, Shorebank Advisory Services, Citizens Development Corps, Peace Corps, and the Advocacy Academy.
The consortium will cooperate actively with several key ministries in the Government of Romania, and numerous local NGOs, business support organizations, chambers of commerce, export and foreign investment promotion groups, and policy think tanks.
Note: Due to security reasons, the invitees check in will start at 10:30 a.m. Journalists are required to bring their press IDs.
Contacts:
USAID: Mihaela Popescu, Tel: 410 1222; Fax: 410 1202
CHF International Romania: Bryan Winston, Diana Voicu , Tel: 230-1113; Fax: 230-1120