Loading ...The mission of the World Bank (WB) will arrive in Bucharest on Wednesday, October 28, to discuss the conditions under which the second development policy loan will be granted, reads a release sent by the bank.
The WB mission, which will in Bucharest till November 9, will arrive at the request of the Romanian authorities to discuss the progress of the reforms agreed upon as part of the development policy lending, which includes three loans amounting to a total value of one billion euros.
The development policy lending concentrates on the management of the public finance, on the measures in the social and financial fields and comes to complete the programmes supported by the International Monetary Fund (IMF) and the European Union (EU).
The first development policy loan, worth 300 million euros, was approved by the WB board on July 16, 2009, was signed on September 1, 2009 and was transferred to Romania on October 20, 2009.
The development policy lending agenda supports the structural reforms and policies aimed at Romania’s fiscal sustainability and supporting the process of economic relaunch.
The WB mission will work in close cooperation with the IMF and the EU in order to assess the progress made by the Romanian authorities in drawing up and applying the structural reforms and policies that were previously agreed upon. A decision on the second development policy loan will only be able to be made after a careful assessment of the implementation of the reform programme previously agreed on, said the World Bank at the end of the release.
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