A delegation of the World Bank had to arrive in Bucharest in order to discuss with the Romanian authorities, with the business people and the representative of the civil society the conditions under which the second loan for development policies will be granted, a loan worth 360 million euros, as part of the programme consisting of three loans meant for Romania.
As in the case of the IMF the bank officials made it clear that the negotiations would be held as soon as a governmental partner for discussions existed. Mention should again be made of the fact that Jeffrey Franks, head of the IMF mission for Romania, made it clear on Thursday, October 15, that “a mission meant to discuss with the Romanian authorities the second assessment in keeping with the stand-by agreement would arrive in Bucharest as soon as the new government is formed.”
Romania should this year get two loans from the World Bank, the first one worth 300 million euros, which was already approved on July 16, and the second one, which should have been placed at Romania’s disposal in December if the negotiations in Bucharest can be held in due time. The three loans, which are worth one million euros in all, are meant for the support of the governmental reforms in taxation, in social protection and in the financial field.
As the preamble to the agreement of the first loan for social policies reads, the aims of the reform are “the consolidation of the management system, of the public expenses, the creation of a buffer for mitigating the impact of the crisis on the poor and vulnerable population and the minimization of the risks of a crisis in the financial field.
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