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Romanian Far-Rightists, Democrat-Liberals Eye EUR5B From Forex Reserve For Agriculture

Romania’s far-right Grater Romania Party and the Democratic Liberal Party submitted a draft law to the Senate stipulating the assignment of EUR5 billion from Romania’s foreign exchange reserves for the development of agriculture.
Romanian Far-Rightists, Democrat-Liberals Eye EUR5B From Forex Reserve For Agriculture
10 oct. 2008, 16:28, English

Grater Romania Party secretary general Gheorghe Funar, who is among the initiators of the draft law, told a news conference Friday the money would be assigned based on projects.

"We’ve drafted a law targeting the use of EUR5 billion from Romania’s foreign currency reserve for investments and upgrades in agriculture. Sums will reach beneficiaries through (state-owned savings bank) CEC, with an interest of 1%, as loans granted over periods of three to 15 years,” Funar said.

The law’s initiators said the measure would secure Romania’s food supply and would help lower the country’s trade deficit.