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Romania: Second tranche of financial assistance disbursed |
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Wednesday, 07 April 2010 15:15 |
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The EU disbursed a further EUR1 billion to Romania in March following a payment of EUR1.5bn in July 2009. The money is part of a EUR5bn loan that Romania negotiated in May 2009 under the Commission’s Balance of Payments programme. EU financial assistance aims at helping countries to withstand short-term liquidity problems and restore investor confidence, and correcting large imbalances in their economies.
Under the agreement Romania can borrow EUR5bn if it complies with certain conditions including introducing structural reforms and improving financial supervision. For future instalments of the loan to be paid out Romania will have to continue to take the necessary measures that were specified in the agreement.
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