Sorry the picture’s low-rez. It’s the only one I could find. To be honest, I’m not even sure this flag exists. I did find it on an offical government website, however.
Today’s flag is the flag of Brăila, a county of Romania.
Design: The flag of Brăila is a rectangle divided into four quadrants. The quadrants in the lower hoist-side and upper fly-side are colored light blue. The squares in the upper hoist-side and lower fly-side are colored white. In the canton is the county’s emblem, a ship floating on the sea.
Meaning: I couldn’t find anything; sorry!
History: I couldn’t find anything here as well; my apologies.
Bonus fact: The first green-white-red Bulgarian flag, designed by S. Paraskevov during the war against Turkey, was first presented to Russian-Bulgarian troops at the Romanian town of Brăila, the county’s namesake and capital, in 1877. Source: http://www.judetulharghita.ro/steagul/galerie/steagurile-judetelor.html