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Law on loan agreement between Romania and IBRD worth EUR 500 million, promulgated
President Klaus Iohannis promulgated on Monday the law for the ratification of the Loan Agreement (Programme based on results in the Romanian health sector) between Romania and the International Bank for Reconstruction and Development (IBRD), worth EUR 500 million.
The agreement was signed in New York on 23 September 2019, amended and updated by the Letter of Amendment signed between Romania and the IBRD in Bucharest on 31 July 2020 and 26 August 2020.
The law has as its regulatory object the ratification of the Loan Agreement between Romania and the International Bank for Reconstruction and Development for the result-based programme in the health sector (Type PfoR), amounting to EUR 500 million.
The programme aims to increase the coverage of primary health care for vulnerable communities, improve the efficiency of health expenditure and implement a series of reforms to strengthen the health system and the capacity of the authorities to respond to emergency situations caused by the COVID-19 pandemic.
According to the law, the Romanian Government authorizes that, through the Ministry of Public Finance, "to agree with the IBRD amendments to the content of the Loan Agreement which are not of nature to increase the financial obligations assumed by Romania towards the IBRD". The agreed amendments shall be approved by decision of the Executive.