BUSINESS

Preliminary talks on EUR 1 bln IBRD loan



Daniel Chitoiu, Vice Prime Minister and Minister of Public Finance, and Liviu Voinea, Minister Delegate for Budget, on Tuesday met with the representatives of the World Bank, Elisabetta Capannelli, country manager for Romania and Bulgaria, and Claudiu Doltu, Romania’s representative at the World Bank, in order to obtain for Romania a new type of loan, called Development Policy loan from the International Bank for Reconstruction and Development (IBRD), worth EUR 1 bln, in 2014, according to a press release. Romania has applied for a total loan worth EUR 4 bln (EUR 1 bln annually) from the IBRD, through the use of instruments for financing budget deficit and refinancing public debt. The reform measures that will accompany the loan and that must be achieved by the end of February will be the responsibility of the Ministry of Public Finance to be carried out in such fields as public debt management, public spending management, public investment budget management, budgeting based on performance, budget planning, measures referring to the taxation policy that has an impact on the business environment and private sector, but also to the energy sector, the statement said.

Related posts

Ministry of Public Finance: Budget deficit of 0.04 pct of GDP at end-November 2014

Nine O' Clock

PNL supports 3 pc cutback of social insurance contributions

Nine O' Clock

Adrian Sarbu, ‘father’ of PRO trust, has resigned

Nine O' Clock

Leave a Comment