Romania gets EUR 60 mln from IBRD to improve judicial services

Romania will get a EUR 60 million loan from the International Bank for Reconstruction and Development (IBRD) to finance projects to improve judicial services, according to the draft law on the ratification of this agreement, which was adopted yesterday by the Government. The project has a total cost of EUR 65 million, of which EUR 60 million come from the IBRD loan whereas EUR 5 million come from the budget of the Justice Ministry. The program aims to rehabilitate and build courthouses, particularly in poor and underserved regions of Romania, and will provide investments in IT&C infrastructure to improve interactions with citizens, businesses, and across the justice network. It will also assist the National Trade Registry Office (ONRC) in adhering to EU standards concerning services related to information about companies, certificates, bankruptcy-processing procedures, and other elements encompassing the life cycle of a company. The loan will be granted by IBRD for ten years, including a six-year grace period, with financial terms that are favorable to the Romanian state, reads the statement. editor@romania-insider.com