Romania meets criteria for last tranche of EC loan.

By bne IntelliNews April 28, 2011
Romania met the fiscal and structural reform requirements and will receive the last EUR 150mn tranche from the EUR 5bn loan from the EC, Mediafax quoted finance minister Gheorghe Ialomitianu as saying. The specific timing for the disbursement was not indicated. The EC has disbursed the previous tranche, aimed at financing the budget deficit, at the end of March. We recall that Romania also agreed with the EC on a precautionary credit line of EUR 1.4bn to be used by the government for budget deficit financing under the broader 2011-2013 follow-up agreement with IFIs, including the IMF and the World Bank.

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