Loading ...PM Emil Boc on Thursday will meet a World Bank delegation at Victoria Palace (govt headquarters) to talks about a loan worth 1 billion euro that the WB might grant to Romania.
The loan will be granted under the shape of a series of Loans for Development Policies, within 24 months. The World Bank might grant some of the money in 2009 and another part in 2010, if progress is made in the reform process.
The loan will be granted under the shape of a series of Loans for Development Policies, within 24 months. The World Bank might grant some of the money in 2009 and another part in 2010, if progress is made in the reform process.
"Together with other international partners, the World Bank is ready to work together with the Romanian Government over the next two years, to implement a set of measures likely to limit recession and its impact on vulnerable categories and set the premises for economic recovery and capitalize on Romania's potential, " said Orsalia Kalantzopoulos, head of the World Bank for Central Europe and the Baltic Countries.
The WB support will focus on long-term structural problems in key sectors like public reform, the fiscal-public financial management, with a view to increasing transparency and predictability of public spending and public service quality, increased social protection and fiscal sector reform.
Other measures target the country's economic restructuring and stabilization on the long run. Romania will receive foreign financial package worth 20 billion euro. with the International Monetary Fund to grant a 12.95 billion euro loan, the EU 5 million euros , the WB – 1-1.5 million euros while another million euros will be granted by some other financial institutions.
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