Romania negotiates EUR 1 billion loan with the World Bank

The World Bank (WB) may provide a EUR 1 billion precautionary credit line to Romania, according to Bloomberg.

Francois Rantrua, country manager in Romania of WB, said today that Romania is negotiating a precautionary arrangement totaling EUR 1 billion, with drawing rights.

An agreement worth EUR 5 billion hs been signed by Romania with the IMF, European Commission and World Bank, but the country hasn’t drawn any sums yet.

“Romania will have to meet certain mutually agreed measures, which are currently being discussed,” Rantrua said. “The duration of the credit line can be as long as three years.”  

The WB estimates a 2.2 percent growth rate for Romania in 2011 and 1.5 percent growth is forecasted for 2012.

Read more about

Early Game invests 1 million Euro as a pre-seed investment round in CogniSync

read more

The deficit totaled 4.3 percent of GDP last year, and the Government wants to lower it to 1.9 percent this year.  

Ovidiu Posirca