Commission and Romania sign Memorandum of Understanding (MoU) on €5 billion balance-of-payments loan
A first instalment of €1.5 billion is expected for next month.
23 June 2009.
The policy conditions include measures in the area of fiscal consolidation, fiscal governance, structural reforms as well as financial sector regulation and supervision.
The MoU was signed by Commissioner Joaquín Almunia, Romanian Prime Minister Emil Boc as well as the country's finance minister and Central Bank Governor.
The EU financial assistance, agreed by EU finance ministers early May, is designed to withstand short-term liquidity pressures and help restore investor confidence by facilitating the implementation of a policy reform package, which aims to ensure an orderly adjustment of external and domestic imbalances. The loan will be disbursed in up to five instalments and is part of a €20 billion multilateral financial support package. >> Memorandum of Understanding(2 MB)