A total number of 25 Romanian companies with business sin Iraq in the ‘80s, including car maker Dacia, lender BCR and oil company Rompetrol, will receive a total sum of $112.4 million from the state, money owed by the Arab state. The sums will be paid over 20 years.
The list of companies with bills not paid by the Iraqi authorities includes Romtehnica ($67.5 million), Uzinexport ($20.9 million), Arcif ($5.6 million), Auto Dacia ($3.4 million), Banca Comerciala Romana ($3.1 million), Rompetrol ($2.8 million), Metalexport ($1.1 million), Romelectro ($651,873), Romenergo ($153,777), ICECOOP ($176,324), Mefin ($13,094), sources within the Romanian Ministry of Economy and Finance told MEDIAFAX Thursday.
The list also includes Electra Trading ($1.1 million), Industrial Export ($849,754), Rifil ($752,560), Tehnoforest Export ($737,136), Chim Import ($679,511), Prodexpor ($582,088), Astra Trading ($438,868), Romsit ($428,980), Electronum ($375,400), Arpimex ($330,971), Tehno Import ($316,250), Petrol Export ($51,522), Romatel ($7,993), Romferchim ($9,092).
The money will be granted in two yearly installments, on March 1 and September 1, between 2009-2028. In these conditions, according to the scheme, there will be cases in which companies who are due low sums, such as Romatel and Petrol Export, will collect $0.56 or $3 at the deadline.
The money will be paid at an exchange rate of USD1 = RON0.0015.
Some $30 million will come from the debt that Iraq will return to Romania.
In August 2005, Romania signed an intergovernmental agreement with Iraq regarding the payment of Iraq’s debt, which will bring Romania at least $977 million, of a total $2.5 billion, throughout 23 years at most. The debt will be paid in installments during January 1, 2009- March 31, 2028.
The Romanian Government approved a decision stipulating that $947.77 million from Iraq’s total debt will be gradually transferred to Fondul Proprietatea.
The government issued a statement stipulating that Fondul Proprietatea will receive $5.49 million in three installments on January 1, 2009, March 1, 2009 and September 1, 2009.
Other sums from Iraq’s debt will be paid in 2010 - $12.44 million, in 2011 - $43.27 million, in 2012 - $68.34 million, in 2013 - $66.45 million, in 2014 - $64.75 million, in 2015 - $62.58 million, in 2016 - $60.8 million, in 2017 - $58.91 million, in 2018 -$57.03 million, in 2019 - $55.144 million, in 2020 - $53.25 million, in 2021 -$51.37 million, in 2022 -$49.48 million, in 2023 -$47.59 million, in 2024 - $45.71 million, in 2025 -$43.83 million, in 2026 -$41.94 million, in 2027 -$40.06 million and in 2028 - $19.32 million.
Under the law, sums recovered from Romania’s external receivables are transferred to Fondul Proprietatea to compensate Romanians whose property was seized under communism.
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