Romania to borrow EUR 40 mln from IBRD for critical emergency infrastructure

Romania’s president Klaus Iohannis gave on Monday, April 6, the go-ahead to a project carried with the International Bank for Reconstruction and Development (IBRD, part of the World Bank group) for the consolidation and preparation of the infrastructure for critical emergency situations.

The program, prepared last year, has a EUR 40 million financing attached.

President Iohannis signed the decree to be submitted to the Parliament for ratification.

The objective of the project is to enhance the resilience of Romanian Gendarmerie facilities that are critical to respond to emergency situations and disasters, and to strengthen the institutional capacities for emergency preparedness and response.

In related news, Romania’s Government has recently activated a pre-arranged financial support from the WB worth EUR 400 mln to help prevent and respond to the new coronavirus (Covid-19) pandemic.

Romania was able to benefit from a pre-arranged loan which has a Catastrophe Deferred Drawdown Option (CAT-DDO) facility that the Government negotiated with the World Bank in June 2018.

(Photo: Shutterstock)