Romania Meets EU Criteria For Loan Disbursement - Finance Minister

04.27.2011 By Florentina Dragu

Romania has met the fiscal and structural reform criteria requested by the European Commission for the disbursement of the final tranche of a EUR5 billion loan, Finance Minister Gheorghe Ialomitianu said Wednesday.

Romania has met the fiscal and structural reform criteria requested by the European Commission for the disbursement of the final tranche of a EUR5 billion loan, Finance Minister Gheorghe Ialomitianu said Wednesday.

"The criteria (…) have been met," Ialomitianu said.

Ialomitianu didn't say when the last installment, worth EUR150 million, will be disbursed.

In 2009, Romania and the European Commission signed a EUR5 billion loan agreement, part of a larger EUR20 billion two-year financing package led by the International Monetary Fund.

So far, the eastern European country has received EUR4.85 from the Commission.

In March this year, Romania and its international partners agreed on a EUR5 billion follow-up precautionary deal that will end in 2013.

Joint teams from the IMF, the EU and the World Bank will be in Bucharest until May 9 for the first review of the follow-up agreement.