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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

RO gets EUR 800 mln soft loans from EC to mitigate crisis’ impact on labor market

Romania will be earmarked around EUR 800 million out of the EUR 17 billion recently borrowed by the European Commission to finance the SURE program, aiming to mitigate the crisis' effects on the labor market, Profit.ro reported.

Romania can use the funds to finance expenditures (or cover past expenses) related to the technical unemployment and the subsidies paid to companies hiring workforce immediately after the interruption of their operations caused by restrictions or effects of the crisis.

Romania was allotted EUR 4.1 bln out of the whole program's EUR 87.8 bln requested by all 17 EU countries enrolled in the program.

The European Commission raised the EUR 17 bln at an interest rate of -0.24% for 10-year bonds and 0.13% for 20-year bonds.

Proportionately, Romania could receive EUR 470 mln to be repaid in ten years at the negative interest rate and EUR 330 mln to be repaid in 20 years.

For comparison, Romania most recently issued EUR denominated bonds with a maturity of ten years in May, when it raised EUR 2 bln at a yield of 3.62% per year.

(Photo: Marian Vejcik/ Dreamstime)

andrei@romania-insider.com

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

RO gets EUR 800 mln soft loans from EC to mitigate crisis’ impact on labor market

Romania will be earmarked around EUR 800 million out of the EUR 17 billion recently borrowed by the European Commission to finance the SURE program, aiming to mitigate the crisis' effects on the labor market, Profit.ro reported.

Romania can use the funds to finance expenditures (or cover past expenses) related to the technical unemployment and the subsidies paid to companies hiring workforce immediately after the interruption of their operations caused by restrictions or effects of the crisis.

Romania was allotted EUR 4.1 bln out of the whole program's EUR 87.8 bln requested by all 17 EU countries enrolled in the program.

The European Commission raised the EUR 17 bln at an interest rate of -0.24% for 10-year bonds and 0.13% for 20-year bonds.

Proportionately, Romania could receive EUR 470 mln to be repaid in ten years at the negative interest rate and EUR 330 mln to be repaid in 20 years.

For comparison, Romania most recently issued EUR denominated bonds with a maturity of ten years in May, when it raised EUR 2 bln at a yield of 3.62% per year.

(Photo: Marian Vejcik/ Dreamstime)

andrei@romania-insider.com

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