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Romanian Govt To Borrow About EUR1B This Year Via Foreign Loans For Investments

Romanian ministries will borrow 4.1 billion lei (about EUR1 billion) this year via external loans, which it plans to use for investments mainly in transports, environment and regional development, official sources told MEDIAFAX Sunday.
Romanian Govt To Borrow About EUR1B This Year Via Foreign Loans For Investments
26 apr. 2009, 12:54, English

Of the total, the Ministry of Transports will borrow RON1.6 billion, the Ministry of Environment will get RON608 million and the Ministry of Regional Development and housing will get RON586 million.

Foreign loans will also be taken by the Ministry of Culture (RON252 million), Education (RON249 million), Health (RON216 million), Agriculture (RON211 million), Economy (RON84 million), Labor (RON64 million), Justice (RON53 million), Communication (RON50 million), Interior (RON28 million) and Finance (RON26 million).

These funds will be completed by state budget revenues of RON4.1 billion, non-reimbursable post-EU accession funds worth RON7.5 billion and RON6.1 billion from investments of state-owned companies and other investment transfers.

The sources said ministries have already opened foreign credit lines for RON879 million, representing 21.3% of the total sums planned.