World Bank: Romania will benefit from a EUR 500 mln loan to support a sustainable economic growth

Newsroom 16/12/2016 | 11:36

Romania will benefit from a EUR 500 million loan to support a sustainable economic growth, to make the public finances more efficient and to reform certain institutions in order to improve the standard of living in the country, said on Friday the World Bank.

„The Executive Directors Council of the World Bank approved today (December 15) EUR 500 million to be given to Romania for the second loan poor development policy,” says the World Bank release.

„The Romanian authorities have proved a sustained commitment to implement an agenda with reforms that represents the core of the efforts for the poverty and exclusion reduction and the creation of better opportunities for Romanian citizens,” said Cyril Muller, the vice president of World Bank for Europe and Central Asia.

The World Bank will still support Romania for the economic transformation and a faster convergence with the EU economies, according to Muller.

According to the source, the new program supports three main priorities, the main one being the improvement of the growth potential of Romania by raising the performance and governance level of state enterprises and the growth of the export competitiveness level and the macroeconomics performances. Moreover, the loan will contribute to the efficiency improvement of the public money spending by supporting the centralized acquisitions in the health sector.

„This process will generate significant savings that will be redirect to the improvement of the health services quality that will reduce the gaps between Romania and other EU states in health field,” says World Bank.

Secondly, it will contribute to the reduction of the poverty rate and the social exclusion through some reforms in the social assistance, according to the the World Bank. And thirdly it will support the public goods at global level by adopting the first National Strategy for Climate Change and the Action Plan regarding the Climate Changes.

Georgiana Bendre

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