Romania to sign new agreement on assistance with IMF, World Bank

The World Bank, together with the IMF and the European Commission (EC), will sign a new agreement, most likely for two years, to provide Romania with financing and technical assistance, Peter Harrold, the Bank’s country manager, announced on Tuesday (January 18th). The new deal will be similar to the one currently in force and will most likely be sealed within the next few months. The last 400m-euro tranche from the current agreement with the Bank will be included in the next arrangement, Harrold said. Romania is under a 1 billion-euro loan agreement with the Bank for development policies, as part of the almost 20 billion euros in financial aid that the IMF, the EC and other financial institutions are providing to help the country face the recession.