News Column

Romania,United States : ROMANIA signs a EUR 1 billion loan from the WORLD BANK

June 22, 2014

The World Bank will grant Romania 2 loans totaling EUR 1 billion. Three quarters of this amount will go to development policies, and the rest for developing the country s health sector.

The loan agreements were signed by Romanian Finance Minister Ioana-Maria Petrescu, the Minister Delegate for Budget Liviu Voinea, and Elisabetta Capannelli, World Bank country manager for Romania.

Both loans were granted for 18 years, with an interest rate of 6-month EURIBOR plus a variable margin. Each loan will be reimbursed in 1 installment in March and May. The 2 loans stay within the new country partnership strategy between the World Bank and Romania, which will consist in up to EUR 1 billion financial assistance a year between 2014 and 2017.

The EUR 750 million loan should help Romania turn its public finances efficient, and boost economic growth. Money will help strengthen the management of the country s public debt, increase management efficiency for state companies, and improve the energy and capital markets, among others.

The EUR 250 million loan will help improve quality and efficiency in the state, run healthcare system, with better services in hospitals, developing multifunctional health centers in poorly covered areas, and efficient use of resources to be financially sustainable.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: TendersInfo (India)

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters