The Government approved on Thursday a memorandum on taking from the International Bank for Reconstruction and Development (IBRD) a loan for development policies regarding disaster risk management, with the option of postponing the drawing until a catastrophe occurs (CAT-DDO).According to a press release from the Executive, the memorandum proposes that the Ministry of Finance start the formalities for contracting this loan, with the option of postponing the drawing until a catastrophe occurs."Romania is a country with great vulnerability to the occurrence of natural and technological disasters, according to the Ro-Risk report, and the IBRD has expressed its willingness to support our country by granting such a loan. This type of loan allows the borrower immediate access to liquidity, in the event of a disaster, the drawing period is three years and can be renewed four more times, but not more than 15 years in total, and has a revolving character, in the sense that, at the request of the borrower, the amounts that are repaid can become available for withdrawal again, provided that the loan is in the withdrawal period", states the cited source.
Romania has made notable progress in combating human trafficking, but additional efforts are needed to protect vulnerable groups from trafficking risks, identify and assist victims, and punish the perpetrators, according to a new report published by the Group of Experts on Action against Trafficking in Human Beings (GRETA) of the Council of Europe. The report evaluated the […]
Romanian deeptech company .lumen announced that its glasses for the blind have been named a CES 2026 Innovation Awards honoree in the Accessibility & Longevity category. Owned and produced by the Consumer Technology Association (CTA) in the US, the awards recognize outstanding design and engineering across 36 product categories. ...
The European Commission has officially recognized Cârnați din topor din Vâlcea as a Protected Geographical Indication (PGI) product, making it the 15th Romanian product to receive this European distinction. Produced in Vâlcea County, these traditional pork sausages are made from 80% meat and 20% fat, hand-chopped with a hatchet into large, uneven cubes, then smoked […]
District 4 mayor Daniel Băluță, backed by the governing Social Democratic Party (PSD), is the favorite in the race for the Bucharest City Hall, according to a poll conducted by Avangarde at the beginning of November 2025. The Bucharest mayoral elections will take place on December 7, and all major parties have put forth candidates for […]
Romania's president Nicusor Dan invited magistrates' bodies and government officials to agree on November 12 on a compromise form for the magistrates' pensions law that would not be referred to the Constitutional Court (CCR) but would be legislated quickly, such as to meet the November 28 deadline set under the National Recovery and Resilience Plan […]
The number of positions in each of the local administration units (including those vacant at this moment) will be cut by 30% under an agreement reached by the ruling coalition on November 11, development minister Cseke Atilla announced. This would result in an overall 10% reduction in the number of employees in the local administration […]
