The Executive will have the possibility to diversify the financing instruments made available by governments and governmental entities for projects of national strategic interest, including national defense and security, such as accessing funds, under advantageous financial conditions, through the Foreign Military Financing (FMF) mechanism offered by the US administration to the governments of other states."Under the FMF mechanism, funds of up to USD 4 billion are approved for direct loans, with the possibility of repayment in 12 years, after a one year grace period, at an advantageous interest rate (close to the US financing cost, to which a margin is added), as well as funds of up to USD 8 billion, attracted by taking out loans from the financial markets, guaranteed by the US government. In addition to the contracts for the acquisition of military technique/equipment of the Ministry of National Defense, other contracts carried out by state-owned companies that are part of the National Defense Strategy and that could be eligible for financing under this mechanism have been identified," the government informs in a press release on Wednesday.The piece of legislation approved by the government in Wednesday's meeting introduces new regulations to allow the online purchase of Treasury bonds, in the context in which the Ministry of Finance is preparing the implementation of new technical solutions that allow the purchase of Treasury bonds including online, which will allow a more comprehensive distribution of these securities, with new ways of subscription and payment at maturity, the release explains."The Ministry of Finance thus responds to requests to facilitate access to the purchase of Treasury bonds including to persons with Romanian citizenship in the diaspora and expands the investor base of individuals, contributing to the development of the domestic market of government bonds and supporting the financing process of the Romanian state on the domestic market through these instruments," the government also says.
President Nicușor Dan has nominated Senate president Ilie Bolojan, a leader of the National Liberal Party (PNL) and former interim president, for the prime minister seat. Dan said Bolojan is “the best person to carry out the needed adjustments in the state administration.” He pointed to Bolojan’s track record with reducing spending, and said he has […]
Balkanik Festival – Home of World Music, set to take place at Uranus Garden between September 5 and September 7, lines up this year artists who "celebrate that form of joy that does not ignore reality, but faces it with beauty, energy, and solidarity," the organizers said. The artists performing in September in Bucharest will […]
The mayor of Timișoara, Dominic Fritz, announced on Friday, June 20, that two new bridges over the Bega River will be built in the city. The bridges will be financed with EU-backed funds worth over RON 130 million. The bridges in question are the Solventul Bridge, which will connect Gării Street to Dâmbovița Boulevard and […]
A Sarmatian necropolis nearly 2,000 years old was discovered after archaeological excavations were carried out at the Mehala II site in the municipality of Timișoara, in western Romania. Researchers discovered 15 inhumation graves, most arranged in rectangular pits with rounded corners, although some no longer retain their original outline, having been disturbed by the passage […]
The George Enescu Philharmonic Orchestra will deliver on June 26 a concert marking Romania Day at the Osaka World Expo. Additionally, the Bucharest-based orchestra will present a series of other concerts and recitals, both within the Romanian Pavilion and outside, at Toyonara Hall in Osaka. The George Enescu Philharmonic Orchestra's concerts will be conducted by […]
Sphera Franchise Group, the largest food service group in Romania, has opened its first Cioccolatitaliani store in the seaside resort of Riccione, in Italy’s Rimini tourist area. This marks the official launch of Sphera Group’s development plan for the premium Italian brand of coffee, gelato, and pastry. Under the plan, it will open four locations […]
