loan

Romania Received First EC Loan Tranche Worth EUR1.5B – State Secretary

Romania received the first part worth EUR1.5 billion of the loan from the European Commission, state secretary within Romania’s Finance Ministry, Gheorghe Gherghina told MEDIAFAX.

Romania To Take EUR1B Loan From Local Mkt To Restructure Debt – Pres

Romanian President Traian Basescu stated Thursday that the government would take a EUR1 billion from the local market, to restructure its short-term debt, adding that the loan conditions would be more advantageous than those of a loan taken from the international market.

World Bank Approves 1st Loan Worth EUR300M To Romania

The World Bank’s Board approved Thursday a first loan worth EUR300 million to Romania, granted to help it mitigate the global economic crisis and resume growth and EU convergence.

Romania Does Not Plan To Ask IMF To Hike Loan – PM

Romania's Government does not plan to ask the International Monetary Fund to increase the loan or to amend the macroeconomic indicators agreed in spring, and the first half indicators will be analyzed as of July 20 when official data is available, Prime Minister Emil Boc said Friday.

EC, Romania Sign MoU On EUR5B Financial Assistance

Romania and the European Commission reached agreement on a EUR5 billion balance-of-payments loan, to help Romania weather the financial crisis.

Romania, EC To Sign EUR5B Loan Agreement By Monday

Romania and the European Commission will sign by Monday the memorandum of understanding and the loan agreement on the EUR5 billion financial support, the Finance Ministry said Tuesday.

Partial Loan Guarantee In „First House” Proj To Trigger Lower Interest Rates – Bker

The partial guaranteeing of the loan through the "First House" project will lead to lower interest rates, but it depends on each bank, while the biggest impact as regards lending will be seen at euro-denominated loans, Alpha Bank president Sergiu Oprescu said Tuesday.

Romanian Posta Romana To Get EUR50M Loan From EBRD Until End-Oct ’09 – Min

Romania’s state-owned postal company Posta Romana will get a EUR50 million loan from the European Bank for Reconstruction and Development (EBRD), until the end of October 2009, for investments in mail sorting centers in Bucharest and Cluj-Napoca, communications minister Gabriel Sandu said Sunday.

EC Loan To Romania To Be Granted In Max 5 Tranches In 3 Yrs

The European Commission’s EUR5 billion loan approved for Romania will be assigned in maximum 5 tranches during three years and will be reimbursed in 7 years at most, the European officials periodically verifying if the Romanian authorities respect the assumed engagements.

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.

EC Loan Not Conditioned By Romania’s Justice Reform – EC Official

The European Commission is not conditioning a EUR5 billion loan to Romania to the country’s progress in fighting corruption, Amelia Torres, spokesperson for EU Commissioner for Economic and Monetary Affairs Joaquin Almunia, told MEDIAFAX Wednesday.

Romania Senate Speaker Concerned About „Hidden” Terms For EC’s EUR5B Loan

Romania’s Senate speaker Mircea Geoana said Wednesday, at the meeting of EU states ambassadors, that it is not at all fair that the European Commission and the Economic and Financial Affairs Council (ECOFIN) tie the EUR5 billion loan from the EC to the Cooperation and Verification Mechanism.

Romania To Get 1st Tranche Of EC Loan End-June

Romania will receive the first tranche worth of EUR1.5 billion from the EUR5 billion loan granted by the European Commission by the end of June or early-July, Finance Ministry secretary of state Gheorghe Gherghina said Wednesday.

Romania Receives Letter Approving IMF Loan

The International Monetary Fund sent Wednesday evening the letter approving Romania’s foreign loan request, finance minister Gheorghe Pogea told MEDIAFAX early Thursday.

Romanian Govt OKs Budget Revision, Lump Sum Tax And Wage Bonus Cap

Romanian government on Saturday approved the first budget revision of the year, the introduction of the lump sum tax, as well as an act limiting salary bonuses in the public sector.

Romania Gets IMF Agreement In Principle On EUR13B Loan – PM

Romanian Government received from the International Monetary Fund the agreement in principle for the EUR12.95 billion stand-by loan, Prime Minister Emil Boc said Thursday.

IMF Imposes Quarterly Performance Criteria For Romanian Budget – Sources

The budget deficit negotiated by Romania with the IMF is set for this year at RON24.36 billion, with quarterly targets, set considering annual budget revenues, without external non-reimbursable sums, of RON166.72 billion and primary spending of RON182.72 billion.

EBRD Approves EUR300M Loan To Romania’s Petrom

The Board of the European Bank for Reconstruction and Development approved on March 24 a EUR300 million corporate senior unsecured loan to Romania’s largest vertically integrated oil company Petrom (SNP.RO), for environment investments, according to EBRD data.

Romania, IMF Set Loan Value At EUR12.95B To Avoid Unlucky 13

Romanian authorities agreed with the International Monetary Fund the loan value in the stand-by agreement at EUR12.95 billion, to avoid 13, a number considered to bring bad luck, a source close to the talks told MEDIAFAX.

No Salary, Pension Cuts In Romania Following IMF Loan – Sources

The financial support package Romania and the International Monetary Fund are negotiating will not trigger lower basic salaries and pensions, government sources said Sunday.

Romania Needs “Preventive” Foreign Financing – Ctrl Bker

Romanian central bank governor Mugur Isarescu told the members of the Government Friday the country needs a “preventive-like” foreign financing to ensure the economic stability and protect the population’s economic interests, the Government said.

Romania Needs External Loan As „Safety Belt” – President

Romania needs a foreign loan as a “safety belt” for the private sector and the current account deficit, not to finance its public debt and budget deficit, Romanian President Traian Basescu said Monday in the Parliament.

Parliament, Romanians Must Agree To Foreign Loan – President

Romanian President Traian Basescu will touch the issue of a foreign loan for Romania in his speech in Parliament Monday and said one cannot impose austerity if the population and the Parliament disagree.

Romania Tests Loan Conditions With IMF, EC – Fin Min

Romania is discussing with both the European Commission and the International Monetary Fund to see the structure, the value and the conditions of an eventual loan, Finance Minister Gheorghe Pogea said Wednesday.

Romania’s Ctrl Bk, Govt Analyze External Loan Conditions – Ctrl Bker

The National Bank of Romania analyzes, together with Government representatives, the right amount to be borrowed from external markets, at the most favorable costs and with a reasonable payback calendar, the central bank’s governor Mugur Isarescu said Monday.

Romania’s Financing Needs To Stay Extremely High – Analysts

Romania’s financing needs will continue to grow, despite a sharp contraction of the current account deficit in absolute terms increasing the possibility of getting external loans, but authorities must keep in mind that such arrangements entail strong commitments.

Romanian Govt May Ask IMF, EC For A Loan – PM

Romania has indeed problems with the external deficit financing, but has several options such as taking a loan from the European Commission or the International Monetary Fund, none of the solutions being excluded, Prime Minister Emil Boc said Thursday.

Romania Needs EUR20B To Finance Deficit In May – Social Democrat Leader

Romanian social democrat leader Mircea Geoana said Wednesday evening on B1TV that Romania would need around EUR20 billion in May, to finance the deficit, adding that a loan of some EUR7 billion from the International Monetary Fund would not be excluded.

Romanian Govt to Begin Talks With Ford On Loan Guarantees

The Romanian government will begin talks with Ford on the conditions to guarantee a loan for the American group, in accordance with the request formulated by the investor late 2008.

Austria’s OMW Grants Romania’s Petrom EUR500M Loan

Romania’s dominant oil company Petrom (SNP.RO) obtained a revolving-type financing of up to EUR500 million from its main shareholder, Austrian group OMV, the company announced Wednesday in a press release.

Romania’s Fin Min, EIB Ink EUR1B Loan Deal

Romania’s Finance Ministry signed Monday a loan agreement with the European Investment Bank, or EIB, worth EUR1 billion, for financing transports, environment and economic competitiveness projects.

Romania’s Fin Ministry, EIB To Sign Mon EUR1B Loan Agreement

Romania’s Economy and Finance Ministry will sign on Monday a loan agreement with the European Investment Bank, or EIB, worth EUR1 billion, to finance transports, environment and economic competitiveness projects, sources close to the matter told MEDIAFAX on Thursday.

Ctrl Bker: Romania Does Not Need IMF Financing

Romanian central bank's deputy governor Cristian Popa said Tuesday that Romania does not need a financing from the International Monetary Fund, or IMF, and that the country does not face financial problems.

EIB To Lend Up To EUR250M To Romanian Leasing Cos

The European Investment Bank, or EIB, could lend up to EUR250 million to leasing companies in Romania, to fund projects, the EIB announced Friday.

EIB Might Grant EUR200M Loan To Romania, Hungary, Poland

The World Bank’s Financial unit, European Investment Bank, or EIB, might grant total loans of EUR200 million for the upgrade of domestic appliance capabilities in Romania, Poland and Hungary.