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World Bank grants Romania EUR 300m loan for development policies

World Bank grants Romania EUR 300m loan for development policies

World Bank grants Romania EUR 300m loan for development policies

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Publicat21 oct. 2009, 16:20
Actualizat21 oct. 2009, 16:21
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The World Bank transferred a 300 million euro loan for development policies into the Public Finance Ministry (MFP) account, and some 360 million euros could be sent by year-end, according to the ministry's representatives.

The other 340 million euros, by 1 billion euros, should be sent in the first part of 2010.

The International Bank for Reconstruction and Development (IBRD), part of the World Bank, approved Romania's first loan for development policies on July 16. 

The loans granted by IBRD will be used to finance the budget deficit, MFP mentioned. 

Romania inked a two-year external stand-by accord worth 20 billion euros with the International Monetary Fund (IMF), the European Commission and the World Bank earlier this year.

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