World Bk Annuls $5.9M Of Romania's Loan On Unspent Funds
Publish date: 18-01-2008World's Bank financial unit, International Bank for Reconstruction and Development, or IBRD, annulled $5.89 million of a loan totaling $80 million granted to Romania for rural projects, fueled by the country's impossibility to spend these funds.
The Romanian Government approved on January 9 the amendment to the $80 million loan, on annulling the unspent funds.
IBRD and the Romanian Government signed the loan agreement in April 2001.
Romania had used $73.28 million, or 91.6% of the aforementioned loan end August.
Mediafax
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