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Romania: Precautionary Financial Assistance Approved

Published: October 25, 2013; 12:15 · (Vindobona)

The Council of the European Union has approved a new precautionary financial assistance program for Romania in extend of € 2bn in connection with a loan by the International Monetary Fund (IMF).

Romania: Precautionary Financial Assistance Approved / Picture: © Flickr

The loan by IMF in the amount of € 1.98bn was granted in September and is the third financial package Romania received in the past four years. Moreover the World Bank supports the country with a loan in the amount of € 1bn, on which Romania will draw € 700m.

Until December 2015 another loan in the extent of € 1bn provided by the World Bank will be availabe for the South…

This article includes a total of 74 words.

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