state guarantees

Representatives of several non-governmental organizations (NGOs) on Thursday called on the Romanian government to include NGOs in the category of beneficiaries of state guarantees for loans contracted to co-finance EU-funded projects, with guarantees covering 30-35% of the loan value.

Romania’s Senate adopted Wednesday with 38 to 36 votes and one abstention a normative act drafted by social democrats and conservatives, regarding the construction of at least 50,000 fully equipped social homes.

The future Romanian government will discuss with the European Investment Bank (EIB) and the European Commission on granting state guarantees to carmakers Renault and Ford for EIB loans totaling EUR500 million, and the government might decide on the issue in the first quarter of 2009.