investment fund

Romanian central bank and state-run lender CEC Bank will have no contribution to the country’s planned investment fund, Economy Minister Adriean Videanu said Wednesday.

Romania’s government is considering setting up a national investment fund to finance larges economic projects, fueled by the state’s minority stakes in several companies and by cash contribution from state-run lender CEC Bank, according to an executive bill.

Romania’s Government plans to sell its minority stakes in several companies and use the funds to finance investment projects, Prime Minister Emil Boc said Tuesday, even though the economy minister has recently stated that these stakes would not be sold.

The Bucharest Court of Appeals on Thursday said Ioana Maria Vlas, former head of Romania’s FNI investment fund, was released from prison so that she could have a fair trial.