European Investment Bank grants Romania EUR 110mln for the National Rural Development Program

Romania will receive EUR 110 million from the European Investment Bank (EIB) as loan for covering the state budget contribution to the National Rural Development Program for the period between July 2013- December 2015, according to the Ministry of Public Finances, quoted by Mediafax newswire.

The loan was signed on December 24 by the Minister of Public Finances Daniel Chitoiu and the Delegate Budget Minister Liviu Voinea, representing the Romanian state, and Flavio Schiavo Campo de Gregorio, head of the Bucharest office, and Stella Renita, legal counsellor, acting on behalf of the EIB.

“The loan from the European Investment Bank will significantly reduce the pressure on the state budget to co-finance the measures from the National Rural Development Program between July 2013- December 2015 and to increase the degree of absorption within this program, by covering an important part of the national contribution for the selected programs,” according to a press release of the Ministry of Finances.
Otilia Haraga