Romania to borrow EUR 60 mln from IBRD for legal services improvement

The Romanian state will borrow EUR 60 million from the International Bank for Reconstruction and Development (IBRD), as part of an improvement program implemented at the level of the Justice Ministry, the National Office of Trade Registry (ONRC) and Prosecutor’s Office, according to a draft published by the Public Finance Ministry.

The loan agreement between Romania and IBRD for the draft support was signed in Bucharest in February.

„The overall cost of the project is EUR 65 million, out which EUR 60 million will be covered by the loan and the difference represents the contribution of the Romanian party, ” says the document.

According to it, The Justice Ministry has appointed an implementation agency of the project and will make the project via the Implementation Office of Finance Projects from External Loans within the institution.