The World Bank has approved on Thursday the second loan in value of EUR 300 million as part of the financing agreement of EUR 1 billion, according to Stefan Nanu, representative of World Bank in Romania, quoted by Mediafax.
“This being the second development policy loan and because there were many discussions up to the present, the loan for Romania was introduced in the Thursday session in streamline procedure. In this case, the program is approved without any new debates if no director has information,” said Nanu.
The second loan at the World Bank was approved for the first part of last year but the measures agreed for approving this financing were not completed, which led to several delays in the approval of the loan.
The country manager for Romania of the World Bank, Peter Harrold, recently declared that the institution will grant technical financing and assistance to Romania within a new agreement that will be closed together with the IMF and the European Commission, most likely in two years’ time.