WB to speed up EUR 1 bln loans for Romania's risk management and green, inclusive growth

The representatives of the World Bank, during their meeting in Washington with representatives of Romania's Finance Ministry, assured that the Bank would speed up the contracting process for loans of approximately EUR 1 billion to the country to finance development policies aimed at green and inclusive growth (Development Policy Financing/Loan – DPF/DPL) and risk management in case of catastrophes (Catastrophic Deferred Drawdown Option - CAT-DDO), Profit.ro reported.

A delegation of the Romanian Ministry of Finance led by minister Marcel Bolos participated in the spring meetings of the World Bank Group and the International Monetary Fund in Washington between April 16-21. On the sidelines of the meetings, the delegation had meetings with high representatives of the World Bank (WB), the International Monetary Fund (IMF), the International Finance Corporation (IFC), as well as with the rating agencies S&P and Moody's.

The discussions of the Romanian delegation with the team of the Fiscal Affairs Department (FAD) of the International Monetary Fund focused on the measures to modernize the National Tax Administration Agency, which must lead to the improvement of the collection of tax revenues by 2.5% of GDP, as well as those to combat tax evasion.

"We maintain our commitment to promote macroeconomic stability, and we are firmly committed to an extensive process of reforms, which result in the growth of the Romanian economy and the support of a new framework for sustainable, fair, and inclusive development," emphasized minister Bolos.

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