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Gov't approves ratification of agreement with IBRD on loan of approximately 590 mln euros
The Government approved on Friday a draft law for the ratification of the loan agreement between Romania and the International Bank for Reconstruction and Development, worth 591.9 million euros.
It is about the second programmatic loan for development policies for green and inclusive growth, informs the Government, through a press release.
"The loan agreement related to the second financing for development policies for green and inclusive growth between Romania and the International Bank for Reconstruction and Development has a value of 591.9 million euros and was signed in Bucharest on July 17, 2023. The loan is granted for a period of 12 years, of which a 5-year grace period, the repayment to be made in equal half-yearly installments, after the grace period (the repayment period being 2028-2035)," the cited source mentions.
According to the statement of reasons for the project, through a memorandum from 2022, the Government and the President of Romania approved the negotiation and signing of the loan agreement related to the first programmatic financing for development policies for green and inclusive growth between Romania and the IBRD, as well as the agreement in principle for contracting the second loan, worth 500 million US dollars. The first financing, in the amount of 600 million euros, was made available by the financier during December 2022. During the preparation of the second loan, the bank expressed its willingness to increase the amount up to 650 million dollars.