World Bank Approves 300 Million-Euro Loan Payment to Romania
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The World Bank agreed to disburse 300 million euros ($406 million) to Romania after the country passed wage and pension legislation last year to meet the terms of its international bailout agreement.
The Washington-based lender’s executive board approved the payment yesterday, the second from the 1 billion euros the World Bank contributed to a larger international loan awarded to the Balkan country in 2009 to help finance the budget, it said in an e-mailed statement today. The payment brings the total disbursed from the World Bank’s portion of the loan to 600 million euros.