The Government approved on Tuesday the negotiation of a guarantee agreement with the International Bank for Reconstruction and Development, the Government informs.
This is related to the preventive loan that the Bank Deposit Guarantee Fund (FGDB) is going to contract from IBRD to support the project regarding the institutional consolidation and resilience of the financial safety net.
The agreement in principle regarding the guarantee of a preventive loan, which FGDB is going to contract from the IBRD, was adopted, also through a memorandum, on October 28.
According to the memorandum, in November, representatives of the Ministry of Finance, FGDB and the National Bank of Romania held a series of technical discussions with the IBRD team to clarify the aspects contained in the guarantee and loan agreements.
"The requested guarantee presents a minimal risk of execution, and FGDB benefits through this guaranteed loan, offered by the IBRD, from more advantageous costs, respectively from a low interest level, which no other financier on the free financial market can offer, which also leads to the minimization of the risks of repayment of the loan guaranteed by the Romanian state," the document reads.AGERPRES
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