Romania Issued Stamp on 25 Years of World Bank in Country

romania-world-bank-stampThe 25 years of Partnership Anniversary Stamp is issued by Romfilatelia to celebrate the opening of the World Bank Group’s resident office in Bucharest in 1991.  The WBG’s partnership with Romania traces its origins back to 1972, when the country became a member of IBRD. Romania joined ICSID in 1974, IFC in 1991, MIGA in 1992 and IDA in 2014.

Over the past 25 years, the World Bank has touched every sector of Romanian society. Their support was central to help the country stabilize its economy in the early 1990s; lay the foundations for EU membership in 2007; and promote faster convergence and a more inclusive growth in Romania. Investments from IFC have stimulated job creation for thousands of Romanians, fostered private sector growth, and investors’ confidence in the Romanian economy.

Romania’s first decade of transition towards a free-market economy was challenging. The first loan, after the 1989 Revolution, financed the purchase of equipment and spare parts for the energy, telecommunications and transport sectors, to ensure the continuity of industrial production and basic social services.

The mid-1990s and early 2000s were defined by Romania’s goal of EU membership and cemented an important role for the WBG in supporting the restructuring of the economy, so that it could prepare itself for EU accession.

The World Bank Group (WBG) is the leading international organization that provides financial and technical assistance to countries around the world. The institutional mission is to eradicate extreme poverty by 2030 and boost shared prosperity for the poorest 40 percent of people.

Issue Date: 16.11.2016 Process: Offset Size: Stamps size: 42 x 52 mm, Minisheet size: 173 x 176 mm  Values: 12.00 Lei

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