Law on increasing authorized capital held by Romania with IBRD promulgated

President Klaus Iohannis promulgated on Tuesday the law on increasing authorized capital held by Romania with IBRD with over 21 million dollars.

According to the law,the increase of the authorised capital held by Romania with IBRD with 682 shares, worth 82,273,070 dollars is approved, according to provisions of Resolution 663/2018, adopted by the IBRD Governors' Council on October 1, 2018.

The capital value is 16,454,614 US dollars and will be paid annually, as of 2020, by bank transfers in equal installments until October 1, 2023.

The increase of authorized capital held by Romania with OBRD is also approved for 662 shares worth 79,860,370 US dollars, according to Resolution 664/2018 adopted by IBRD governors' council in October 2018.

The capital is 4,791,622 US dollars and is paid as of 2020, until October 2023.

The payment of the capital according to the two resolutions is made annually from the state budget, through the budget of the Ministry of Public Finance.

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