WB Team To Visit Romania This Week – Official

Romania secured this spring a EUR20 billion bailout loan from the International Monetary Fund, the World Bank and other international lenders to cope with a deepening recession.

The World Bank lend Romanian EUR1 billion within the package, conditioned by a series of economic programs.

„We have a series of programs for specific loan tranches. Once the conditions are observed, the installment is disbursed,” said Catalin Pauna, senior economist with WB Romania.

The latest assessment mission from the WB took place early November.

„Romania made progresses since the latest arrival (of the WB mission – e.n.),” Pauna mentioned.

A team of IMF experts is currently in Bucharest to hold technical talks on the country’s draft budget for 2010, one of the Fund’s requirements to disburse a new EUR1.5 billion tranche to Romania.