The government on Wednesday approved a bill ratifying an agreement between Romania and the International Bank for Reconstruction and Development (IBRD) on an EUR 599 million loan to fund green investment projects in energy and transport.

„Securing financing for green investment in energy and transport is the subject of a bill passed today by the government. Under the bill, which was sent for debate and approval, in an emergency procedure to Parliament, the Loan Agreement between Romania and the International Bank for Reconstruction and Development worth EUR 599 million is ratified. The funds will finance the green transition, mainly actions in areas such as renewable energy, including offshore wind energy, transport, and public-private partnerships for these areas are also encouraged,” governmental spokesperson Mihai Constantin told a news briefing at the Government House.

The 15-year loan is also intended to finance the national government deficit and refinance the government public debt.

AGERPRES