The Romanian-American Foundation was founded in 2009, as a successor to the Romanian-American Enterprise Fund (RAEF). Created in 1994 by the United States Congress and funded through the U.S. Agency for International Development (USAID), RAEF pioneered a combination of investment and development activities that proved very successful in the Romanian market place. At the end of its mandate, RAEF returned half of the initial grant to the U.S. Treasury Department, the remaining half and all the profits generated constituting the endowment for an in-perpetuity foundation. RAF’s current endowment has reached 150 million USD.
The Romanian-American Foundation is emblematic of America’s enduring commitment to the Romanian people and Romania’s historic transition to a market-based economy.
RAF invests over 35.5 million dollars in programs affecting change in Romania.
Through RAEF-related capital, RAF endowment stabilized at 150 million.
RAEF returned 25 million dollars to the U.S. Treasury Department and started to build RAF's endowment.
Creation of the Romanian-American Foundation.
In September 2009, RAF approves the first grants.
USAID accepts RAEF’s liquidation plan to allow for the establishment of the Romanian-American Foundation, a U.S. in-perpetuity foundation with an initial endowment of 50 million dollars. The endowment comprises half of the initial grant and all the generated profits.
The Romanian-American Enterprise Fund (RAEF) was established by the United States Congress and funded through a 50 million dollar grant from the U.S. Agency for International Development (USAID) under the Support for Eastern European Democracy (SEED) Act.
Support for Eastern European Democracy (SEED) Act.
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