Overview
1996
In accordance with the Memorandum of Understanding signed between the European Commission (European Community Commission at that time), the Government of Romania and the European Bank for Reconstruction and Development (EBRD), Post-Privatization Foundation (FPP) was set up, in order to continue the mission of the Romanian Post-Privatization Fund which had been active for a ten-year period (1996-2006). At that time, FPP’s mission was to carry out capital investments in small and medium-sized enterprises and to provide technical assistance for this process, under the supervision of the foundation board, made up of European Commission and Romanian Government representatives.
1996-2006
FPP carried out capital investments in the following companies: ISAF, Regisco, Continental, ISAF Prestar, Adesgo, IRIDE, Remayer, PcNet, Venoma (Sicomed), VitalGaz, Advantage Software Factory and Arctic. All investments reached their maturity and are now exited.
2008
FPP was mandated to manage the SME portal www.esimplu.ro, a unique virtual tool for Romanian small and medium-sized enterprises, which provides the widest range of online resources for entrepreneurs.
2009
- The European Commission and Government of Romania sign the exit agreement from FPP, based on the Government’s commitment regarding the compliance with certain conditions, among which the setting-up of the Romanian Counter-Guarantee Fund and the creation of a fund for the foundation’s development and sustainability.
- FPP becomes one of the two founders of the Romanian Counter-Guarantee Fund, together with the Ministry of Economy, Trade and Business Environment (Ministry of SMEs, Trade and Business Environment at that time).
2010
FPP becomes a private organization and is repositioned as the most representative organization for entrepreneurship in Romania, continuing to support the development of entrepreneurs along three main lines of action: entrepreneurial development, improvement of the business environment and promoting social responsibility among SMEs.
