Romania will receive a 100 million euro loan from the World Bank (International Bank for Reconstruction and Development - IBRD) to improve judicial services, according to the agreement ratified by law on Wednesday by President Klaus Iohannis.According to the Agreement, the Ministry of Justice is designated as the implementing agency and as such is delegated full authority and responsibility for the implementation of the Project on Strengthening the Basis for Improving the Delivery of Judicial Services.Thus, the Ministry of Finance will enter into a subsidiary agreement with the Ministry of Justice, setting out the rights and obligations of the parties in the implementation of the Project and the application of the Loan Agreement.Romania's contribution to the financing of the Project shall be provided from the State budget, through the budget of the Ministry of Justice, within the limit of the equivalent in lei of the amount of 34 million euro, which includes expenses for services and compensation related to the expropriation procedure under the law on expropriation for public utility, necessary for the realisation of objectives of national, county and local interest, with subsequent amendments and additions, and the salaries of the staff of the Directorate for the implementation of projects financed from external loans within the Ministry of Justice.Payment of public debt service on the loan, repayment of principal, payment of interest, commissions and other costs related to the loan, shall be provided in accordance with the legislation in force on public debt, through the mechanism related to repayable financing contracted by the Government of Romania, through the Ministry of Finance, in order to finance the state budget deficit, refinancing and early repayment of government public debt.
Romania’s trade in goods posted a EUR 7.75 billion deficit in Q3, 7.6% smaller compared to the same period in 2024, according to data published by the statistics office INS. The trade gap expanded by 10.9% year-over-year (y/y) to EUR 16.7 billion in H1. It is still premature to conclude that fiscal consolidation has a […]
The Superior Council of Magistracy (CSM) has filed a criminal complaint against deputy prime minister Oana Gheorghiu, accusing her of “violating the independence of justice and the status of magistrates in an irresponsible and populist manner,” the institution announced. The move follows Gheorghiu’s recent comments on
Romanian producer Transavia announced it was expanding into the production of pet food with a RON 763 million (approximately EUR 150 million) factory in Ciugud, in Alba county. The investment is made entirely from the company’s own funds. With a built area of 65,000 sqm, the factory will produce a wide range of dry and...
President Nicușor Dan stated on Monday, November 10, that Romania meets all the conditions to become an innovation and production hub in the defense industry in Southeast Europe. “Romania meets all the conditions to become an innovation and production hub in the defense industry in Southeast Europe. Why? First of all, because it has a […]
Officials in the mountain resort town of Râșnov, central Romania, have issued an urban planning certificate for the transformation of a Boeing 737 airplane into a premium accommodation unit. The plane will be placed near the famous Bran Castle, and organizers expect it to become a tourist attraction. “The project is located in the Pănicel […]
Traffic (Jaful Secolului), a Romania-Belgium-Netherlands co-production directed by Belgian-Romanian director Teodora Ana Mihai from a screenplay by Romanian filmmaker Cristian Mungiu, has received the award for best film at the Tertio Millennio International Film Festival in Rome. The jury of the festival noted in its motivation the film's "ability to combine formal rigor and human […]
