The clean transition and the strengthening of European competitiveness are among the main challenges of our time and key objectives of the current European Commission (see COM(2025) 30 final). Romania’s promotional national bank, the Investment and Development Bank (IDB), is exploring how it can contribute to these priorities.

To support this effort, EIB Advisory commissioned a feasibility study to identify projects and instruments that could increase financing in the territories targeted by the Just Transition Fund (JTF). The JTF promotes environmentally sustainable economic diversification. The assignment’s objective is to guide the IDB in designing a financial instrument that supports green investment in the JTF counties while also financing projects that strengthen competitiveness in critical technologies, as outlined in the STEP Regulation.

The assignment includes a market feasibility study to assess demand and supply for a financial instrument targeting STEP priorities (e.g. biotechnology, semiconductors) in the JTF-eligible counties in Romania. The results of the assignment consist of: (1) a market assessment of JTF-eligible counties, and (2) a proposal for the financial instrument, including a draft product term sheet. The market assessment relied on an analysis of available reports on the six JTF-eligible counties. Building on this, the feasibility study proposes an instrument to address identified financing needs.

The final deliverables comprise the market assessment, a proposal for the financial instrument, a draft term sheet, and a governance model.

The study was carried out by t33 in consortium with EY.