Romania takes EUR 599 mln IBRD loan to fund green projects and its public deficit

The government ratified on September 18 the agreement between Romania and the International Bank for Reconstruction and Development (IBRD) on a EUR 599 million loan to fund green investment projects in energy and transport, but also the public budget deficit, announced the Executive's spokesperson Mihai Constantin.

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

The loan is also intended to finance the budget deficit and refinance the government's public debt, he added.

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 for Bucharest are expected and will be treated with priority.

(Photo source: Inquam Photos/George Calin)