Romania takes out €599m loan from IBRD to finance green projects and public deficit

The government ratified on September 18 an agreement between Romania and the International Bank for Reconstruction and Development (IBRD) on a loan of EUR 599 million to finance green investment projects in the energy and transport sectors, as well as to cover the public budget deficit, the executive spokesman announced Mihai Constantin.

These funds will finance the green transformation, mainly activities in areas such as renewable energy, including offshore wind, and transport. Public-private partnerships for these areas are also encouraged, Mihai Constantin explained.

He added that the loan is also aimed at financing the budget deficit and refinancing the government’s public debt.

This loan has a maturity of up to 15 years and, as the Prime Minister announced at the beginning of the meeting, projects aimed at transport infrastructure and green energy in Bucharest are expected and will be given priority.

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(Photo credit: Inquam Photos/George Calin)