WB Mission To Romania To Focus On Public Sector Reform

„During January 20-27, 2010, a World Bank mission, headed by Swati Ghosh, will visit Romania, together with the IMF and the European Commission teams, to discuss progress on the economic reform program supported by the World Bank, in the context of the second Development Policy Loan,” the World Bank said in a press release Saturday. World Bank experts will focus on the reform of the public sector, including the implementation of the unitary pay law and the pension system, social assistance, and the reforms in the financial sector, the release states. Romania received in September EUR300 million via the Development Policy Loans (DPL) program, which amounts to a total EUR1 billion and which focuses on public financial management, the social sectors and the financial sector. The International Monetary Fund will be reviewing Romania’s stand-by agreement, in view of disbursing two further loan tranches of EUR2.3 billion, as Romania has adopted its 2010 state budget. Romania and the IMF have signed a EUR13 billion standby arrangement in 2009, as part of a larger EUR20 billion package which includes funds from the EU, the World Bank and other international lenders.