A new loan worth 60 million euros will be contracted from the International Bank for Reconstruction and Development (IBRD) through a Memorandum agreed upon by the Romanian Government to finance a project for improving legal services, a release on Wednesday informs.
According to the Government statement, the total estimated cost is 65 million euros of which 60 million euros will be from the IBRD loan and 5 million euros will be the Romanian Justice Ministry’s contribution.
The loan will serve to upgrade the buildings of the courts of law and the legal IT systems included in the action plan for the implementation of a judiciary development strategy 2016-2020, says the release.
Also, the activity of the National Companies Registry Office (ONRC) will be improved, by retooling its hardware as well as by projecting, developing and implementing an electronic archiving system.
The IBRD loan will also serve to boosting activity of the prosecutor’s offices by mending the IT infrastructure at national level, and the security infrastructure at the level of the Public Prosecution Service.
According to the Executive, the IBRD loan will be six-year granted under advantageous terms for the Romanian state and with no impact upon the national budget in 2016.