How 400 million euros from PNRR attracted private investments of 2.3 billion euros. Pîslaru: “We are finishing the PNRR”
The Minister of European Investments and Projects, Dragoș Pîslaru, gave assurances that this year Romania “finishes the PNRR”, arguing that European funds should not only be seen as a solution for the immediate needs of the economy, but also as an essential tool for changing the country's development model.
Minister of Investments, Dragoş Pîslaru. Archive photo
“We managed to prioritize investment projects. They are standing projects and it is very important to see them through to the end. They are predominantly public investments. This year we are finishing the PNRR. From 2028 the new financial perspective opens. Let's make one plan for all economic development”, pointed out Minister Dragoș Pîslaru at the “Rethink Economics – From urgent measures to development strategies” debate.
According to him, investments must be prioritized and correlated with private capital to generate sustainable economic development. “European funds play a double role for Romania's economy: they can help correct immediate problems, including fiscal imbalances, but they can also support the transformation of the economic model in the long termhe said.
Dragoș Pîslaru explained that the transition to an investment-based model must be done strategically, not through a chaotic distribution of resources.
The minister emphasized that the simple allocation of money is not enough and that, after making the investments, they must be concentrated in strategic directions, such as innovation, education and human capital.
The minister also spoke about the way in which the projects of the National Recovery and Resilience Plan (PNRR) were managed, showing that, in some cases, the program was overcontracted, reaching promises of funding far beyond the actual implementation capacity. Under these conditions, the ministry had to prioritize the projects in order to focus on those that can be completed.
Public investment, catalyst for private capital
On the other hand, Dragoș Pîslaru added that one of Romania's great challenges is the creation of a stronger relationship between public and private investments.
According to him, public investment must work as a catalyst for private capital, not just as a direct source of financing. The minister gave the example of venture capital funds financed through PNRR, where an allocation of 400 million euros generated a significant multiplier effect, attracting almost six euros from the private sector for every euro invested from public funds.
Currently, 18 investment funds have been created through this mechanism, mobilizing over 2.3 billion euros in the economy. In the minister's opinion, this type of financial instruments can contribute decisively to the development of the private sector and the modernization of the economy.
Dragoș Pîslaru also emphasized that Romania is in a favorable moment from the point of view of European financial resources. In the coming years, the country will continue to benefit from important funds from the cohesion policy, and from 2028 a new European budget cycle will begin.
In this context, the minister proposed the development of a unique economic development plan, which would integrate not only European funds, but also budgetary resources and private investments. He believes that such a plan could form the basis of a national pact for economic development.
