Anna Akhalkatsi, World Bank's country manager for Romania, and Romania's finance minister Adrian Caciu sign a 600 million euro inclusive and green growth development policy loan. Photo by the World Bank.
July 19 (SeeNews) - The World Bank said it signed on Tuesday with the Romanian finance ministry a 600 million euro ($615 million) inclusive and green growth development policy loan.
“Romania’s recent upgrade to the group of high-income countries is encouraging, but the population is still among the poorest and most unequal in the European Union and much remains to be done. This partnership will support the Government’s efforts to address inclusion, as well as constraints to Romania’s sustainable and green growth,” Anna Akhalkatsi, the World Bank's country manager for Romania, said in a press release.
The loan is the first in a programmatic series of two financing operations, and is complemented by a $24.2 million grant provided by the Innovative Global Public Goods Solutions Fund of the World Bank, also signed on Tuesday. The loan and the grant support the government in pursuing key structural reforms to strengthen social inclusion, including response measures to the humanitarian crisis, and fiscal management, foster decarbonization and climate resilience.
($=0.975 euro)