The World Bank, IMF and EC will finance Romania in a two year agreement

Newsroom 19/01/2011 | 16:11

The World Bank will grant Romania technical assistance and financing as part of a new agreement that will be signed also with IMF and the European Commission, most probably for a period of two years, according to Peter Harrold, country manager of World Bank for Romania.

He also mentioned that the new agreement with the World Bank will be similar to the current one, but the last part of the loan in the current agreement, worth EUR 400 million, will be included in the new agreement, which will be signed in several months.

The value of the loan that the World Bank will grant has not been established yet.

“Romania is very well financed on the currency side. The IMF finances the currency reserve this is why only a precautionary agreement is needed,” said Harrold.

Otilia Haraga

 

 

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