April 6 (SeeNews) - Romania's president Klaus Iohannis on Monday signed a decree approving a 40 million euro ($43.2 million) loan from the International Bank for Reconstruction and Development (IBRD).
The loan will go towards infrastructure used in emergency situations, according to the decree published on the president's office website.
It will now have to be ratified by parliament.
The World Bank group, of which the IBRD is part, approved the loan on May 29, 2019.
According to the press release issued at the time by the international lender, the loan will be used to enhance the resilience of the gendarmerie facilities that are critical in the response to emergency situations and disasters and to strengthen the institutional capacities for emergency preparedness and response.
The loan has a maturity of ten years and a grace period of 9.5 years.
On April 2, Romania's government activated 400 million euro of pre-arranged financial support from the World Bank to respond to the COVID–19 pandemic. The financing covers a range of interventions to strengthen health services, minimise the losses to both the public and private sectors, and to safeguard lives and livelihoods overall.
($=0.9252 euro)