Romania gets EUR 1.2 billion more from the European Commission

The European Commission has sent one more loan installment to Romania, some EUR 1.2 billion, after giving a positive review to the third memorandum of understanding with the country. This was part of the EUR 5 billion package Romania accessed in 2009. The last installment in the package, of EUR 150 million, is expected in the second quarter of the year. The European Commission will also make available EUR 1.4 billion for Romania as part of the new cautionary agreement the country will have with the International Monetary Fund and the EC. Romania entered a EUR 20 billion financing agreement with the IMF, the EC and World Bank in 2009, which has helped the country weather the crisis period. editor@romania-insider.com