The World Bank has approved a EUR500m loan to Romania for backing the efficiency increase of the public finances, the reform in state institutions, the sustainable economic growth and the improvement of living standards, the international financial institution announced in a release. That is the second DPL loan granted to Romania, which mainly aims at institutional reform and at implementing vital policies for reaching sustainable growth, for new jobs creation and improvement of living standards, the release said.
In more detail, the WB financing would support three major priorities: increasing Romania's economic growth potential through boosting the governance and performance of the state enterprises, increasing the exports competitiveness and improving the efficiency of public finance spending by supporting centralized public procurement in healthcare. The WB program should also contribute to reducing poverty and social exclusion through reforms in social assistance system. In addition, the program would support the setup of the National Strategy for Climate Change and an actions plan in that regard.