The business in Romania blog writes about the Romanian business landscape, doing business in Romania, investing in Romania business and debating on business issues in Romania. Check this Blog's Policy here.
Sitemap | Feedback | Doing Business in Romania report | Opening a Business in Romania | RSS for this Blog
Monday, September 20, 2004
WASHINGTON, September 17, 2004 – The World Bank’s Board of Executive Directors yesterday approved a US$150 million loan, which is part of the multi-annual Programmatic Adjustment Loan (PAL) to support the Government’s structural and institutional reforms. The PAL actions are synchronized with the European accession goals and the precautionary standby agreement with the International Monetary Fund, and support the continuation of privatization and other structural reforms initiated under the previous Private Sector Adjustment Loan programs.
Under PAL I, Romania embarked on a phased reform program in the judicial, civil service and public expenditure management areas. In addition, the Government is taking measures to complete the privatization agenda, energy sector reforms, improvement in the business environment, and reform of the labor code and the capital market. These measures will contribute to Romania’s efforts to achieve a fully functioning market economy.
The successful completion of PAL I marks a transition to the next phase of structural reform, focusing on strengthening the institutional independence of the judiciary, developing a professional, transparent and efficient civil service, and strengthening corporate governance of the enterprise sector. Implementation of the follow-up PAL II is underway and is expected to be completed by the end of 2005.
The World Bank has been a committed partner in Romania’s development process since 1990, with loans totaling over US$3.8 billion. Its current investment portfolio is worth over US$1.2 billion, in 27 active operations covering all sectors of the economy.
Posted by Mihai Botea : 9/20/2004 01:49:00 pm
06/01/2004 - 07/01/2004
Romanian Dacia Logan to hit France and Germany
Some get what they deserve...
Why 2007 Is Too Soon
news: S&P upgrades Mobifon Holdings B.V. ratings
Investors Comment on Romanian Companies
S&P raises rating for Termoelectrica S.A.
The new Romanian Government's House
Petrom refiner to become separate firm
DURA Automotive to Open Production Facility in Rom...
Publications & Media
This website is proud to be designed by Mihai Dragan
I usually listen to THIS kind of music.