The World Bank's Executive Board approved two loans for Romania, jointly worth $200 million (about 154 million euros). The money is destined to a mine closing and social impact alleviation project and to a health care system reform. The international financial institution says the two projects will be conducted over four to five years. The two loans come with variable interest and shall be repaid in 17 years, with a five-year grace period included. The project to close down the mines and perform social-economic and environmental regeneration is worth $120 million (92 million euros). The programme is divided into two components and targets granting support to the Government for closing the non-profitable mines, observing the environment protection norms and taking steps to stimulate the social-economic regeneration of the mining areas. The mine closing and environment component will help complete the closing of the economically inefficient mining operations. At the same time, they will be ecologically rehabilitated, in line with EU accession requirements. ZF
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