Crisis-hit Romania will receive â‚¬20 billion in rescue loans from a group of lenders led by the International Monetary Fund, officials said Wednesday.
Jeffrey Franks, the head of the two-week IMF mission to Romania, told reporters that the IMF had agreed to a two-year bailout loan of â‚¬12.95 billion ($17.49 billion). The first part, â‚¬5 billion, will be available in the summer.
Franks said another â‚¬5 billion will come from the European Union, â‚¬1.5 billion from the World Bank, and the rest from the European Bank for Reconstruction and Development.
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