Ion Gumene
The loan will be used to finance the state budget and implement structural reforms. It is provided for a term of 30 years with a 9-year grace period. The funds will be disbursed in a single tranche. The measures included in the program are aimed at modernizing public procurement, digitizing services, strengthening social protection, and stimulating sustainable economic growth.
Key loan terms:
Amount: 218.2 million euros
Maturity: 30 years
Grace period: 9 years
Interest rate: EURIBOR (6 months) + variable margin (approximately 1.11 percentage points at the time of signing)
One-time loan origination fee: 0.25%
Commitment fee: 0.25% of the undrawn balance
Disbursement: in a single tranche
Deadline for drawing down funds: December 29, 2028
“The loan agreement is tied to reforms, which is precisely why it is concessional. As a member country of the International Bank for Reconstruction and Development, we must implement certain reforms to gain access to concessional financing. And in this case, the agreement does indeed stipulate seven reforms that had to be implemented before the World Bank approved the loan,” said Ion Gumen, State Secretary at the Ministry of Finance.
Specifically, these reforms concern key areas such as public administration, the business environment, financial transparency, education, the labor market, energy, and infrastructure.
