IMF agreement triggers World Bank money

World Bank director for Romania Andrew Vorkink stated on Tuesday in Washington, following his meeting with Romanian Premier Mugur Isarescu, that the Programme for health reform submitted for financing by the Romanian Government, will be approved at the end of this month. For this project, 112 million dollars will be allocated, of which Romania will have to pay 40 million dollars and the World Bank 60 million dollars, while the rest will be derived from individual donations. During the same meeting of the Management Board, Romania will be granted 10 million dollars, meant to improve the environment standards of mining areas in Maramures.

Andrew Vorkink also announced that, at the beginning of June, shortly after the signing of the accord with the IMF, the World Bank would disburse the last tranche of the PSAL programme, worth 150 million dollars.

During the following period, the World Bank plans to release part of the second tranche of the ASAL programme, and, by the end of the year, it is to disburse the last tranche of this accord, after Romania meets the last criteria related to the privatisation of state-owned farms.

During the same year, the World Bank is to launch a new programme for Romania, of strategic assistance, on a period of three to four years, which is to identify viable economic sectors that can bring high added value, one of these being the IT sector.