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Bucharest
February 28, 2021
BUSINESS

Ministries to borrow EUR 1 bln this year for investments through foreign loans

The Ministries shall borrow this year RON 4.1 bln (EUR 1 bln) through foreign loans for their investment projects, the largest share of funds being contracted by Ministries of Transports, Environment and Regional Development, according to official sources, Mediafax reports.

Out of this, Ministry of Transports shall contract foreign loans of RON 1.6 bln, Ministry of Environment shall borrow RON 608 M, and Ministry of Regional Development and Housing shall borrow RON 586 M. Foreign loans shall also be contracted by Ministries of Culture (RON 252 M), education (RON 249 M), Health (RON 216 M), Agriculture (RON 211 M), Economy (RON 84 M), Labour (RON 64 M), Justice (RON 53 M), Communications (RON 50 M), Administration and Internal Affairs (RON 28 M), Finances (RON 26 M). To these, there are revenues of RON 4.1 bln from the domestic economy, post–accession non–refundable funds worth RON 7.5 bln, investments of state run companies and transfers similar to investments of RON 6.1 bln that add. According to the source, the Ministries already started external loan opening amounting to RON 879 M, accounting for 21.3 per cent of total annual programmed value, but from the external non refundable post accession funds, RON 7.5 bln, the openings of loans amounted to RON 608.9 M, which accounts for 8 per cent of the total annual amount.

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