Draft Law: 15% discount for foreign currency loan conversion

The Romanian Government debated on Wednesday, March 18, a draft law on foreign currency loan conversion to Romanian currency lei (RON). Banks would offer a 15% discount on the loan in RON after conversion, according to the draft law. The state would guarantee half of the loan by, government sources say, cited by local Mediafax. The project covers loans in currencies which have increased by over 50% against the RON since the credit has been granted. The banks have agreed to the draft, and the Government awaits for the Romanian National Bank approval, sources say. editor@romania-insider.com