The government has approved the mandate of the Investment and Development Bank for the administration of the Modernization Fund, aimed at renewable sources and energy efficiency.

The Romanian government has adopted a draft regulatory act that mandates the Investment and Development Bank S.A. (BID) to manage financial instruments from the modernization fund. This fund will support the creation, development, and modernization of production capacities from renewable sources, as well as the implementation of technologies for energy efficiency. The project aims to strengthen the legal framework for managing funds, ensuring an efficient implementation of projects.

An important change includes increasing the percentage allocated for administrative expenses from 3% to 7%, following recent legislative amendments. Additionally, new types of eligible administrative expenses are introduced, including for technical assistance. Implementation partners will be the Intermediate Body for Promoting the Information Society and the Agency for the Financing of Rural Investments. The project aims for a predictable and transparent procedural architecture for managing funds.