The Government approved on Wednesday, through a memorandum, the start of the negotiation of a loan agreement between Romania and the International Bank for Reconstruction and Development, in the amount of 60 million EUR, to support the project on the prevention and reduction pollution in rural areas, Agerpres reports.

According to a Government’s release, the project will be implemented over a period of 5 years, with the deadline for drawing the loan being June 30, 2028.

„The project will be implemented by the Ministry of Environment, Water and Forestry, through the Project Management Unit (UMP), existing within it. The total cost of the project will be 60 million EUR and will be financed 100% from the loan. Completing the contracting process in the shortest possible time will allow the Romanian side to start the implementation of the project in a timely manner and implicitly the possibility of accessing the loan amounts according to the financing needs. After signing, the loan agreement will be ratified by law”, the press release states.

The cited source specifies that the agreement in principle on taking out this loan was signed on September 21, 2022, based on which the Romanian authorities subsequently submitted the loan request to the IBRD.

Agerpres