Loading ...The World Bank confirmed for AGERPRES that a first loan, 300 million euros worth, will be transferred to the Romanian authorities in a few days, part of the three loan programme agreement, in the overall value of one billion euros.
WB money has to secure the governmental reforms in fiscal field, social protection and the financial sector. According to the preamble to the agreement on the first loan for social policies, the reform is aimed at “consolidating the public spending management system, creation of a buffer for easing the crisis impact upon poor and vulnerable population and minimizing the risks of a crisis in the financial sector”.
The first loan, meant to contribute to the easing of the global economic crisis effects and to help Romania re-launch the process of economic growth and convergence with the European Union, was approved by WB Board on July 16.
We remind that on Monday the WB announced that its delegation will come to Bucharest to negotiate conditions for a second loan for development policies after Romania will have a new government in place, approved by the Parliament.
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