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Annual Interest Rate For Romania’s EUR5B Loan From European Commission Sets At 3% -Fin Min

The interest rate for Romania’s EUR5 billion loan from the European Commission sets at 3% per year, compared with interest rates between 11.5% and 12% for state bonds on the domestic market, minister of Finance Gheorghe Pogea said Thursday.
Annual Interest Rate For Romania’s EUR5B Loan From European Commission Sets At 3% -Fin Min
07 mai 2009, 10:39, English

"The interest rates and the issues related to the loans will be much lower. I give only one example: today, we take from the domestic market state bonds with interest rates ranging between 11.5% and 12% – they were even higher in January and February – and the financial package we get through foreign loans taken from the European Commission could  mean interest rates at 3% for example. From 12% to 3 % it is a very big difference. The conditions are very, very advantageous for Romania," Pogea said.

Romania agreed end-March with the IMF, the European Union and other international institutions a EUR19.95 billion financial package, supported by a EUR12.95 billion IMF loan under a two-year standby arrangement.