Romania to Receive $27 Billion in Aid from IMF and other Lenders

Romania will be receiving a total of $27 billion in aid from the International Monetary Fund, the European Union and the World Bank in an effort to stabilize the country’s current economic situation and unemployment woes.

All three bodies have agreed in principle to the loans but still await final approval before the funds will be released. Romania will also be receiving more than $1 billion from the European Bank for Reconstruction and Development (EBRD) over the next two years.

The goal of the loans is to improve long term sustainability within the Romanian economy, something that appeared certain just months ago when they carried the EU’s highest growth rate. That has all turned with the collapse of the auto and steel sectors as well as problems within the real estate industry.

Click here for more World News

About YourFINDit

YourFindit Community is a business, music and social networking community. YourFINDit provides members with a wealth of applications that enable them to create an in depth profile within YourFindit. Profiles include an About Me, Background and Lifestyle, Videos, Photo sharing, News, Music, Blogs, unique URL and networking with other members inside the YourFINDit community. YourFindit provides ADit to each member providing them the opportunity to have an exclusive profile (no outside advertising) displaying only banner ads they upload to their pages. Members can run their own ads or give or sell their ad space to advertisers at prices the member sets.

To create your profile sign up and within minutes you too can have your People profile running your ads and building your network with new members daily.

YourFindit is owned and operated by TransWorldNews, Inc. a news and press release distribution service.