Romania could get a yearly credit line of EUR 1 billion from the World Bank between 2014 and 2017, and would use the funds for projects in health and education.

The credit line, of EUR 1 billion a year until 2017, would be based on a strategy due for approval in the World Bank's board on May 27, according to Romanian Prime Minister Victor Ponta. The 18-year loan will carry an interest of 3.5 percent.

The PM said funds will be used for health, education, but also welfare and energy.

Funds will be managed by an implementation unit within the PM's cabinet, which will be tasked with identifying measures to improve central public administration, public acquisitions, energy projects and to lower youth unemployment.

The World Bank recently announced it approved a EUR 250 million loan to Romania to help improve the country’s healthcare. The money will go towards the health sector reform – Improving Health System Quality and Efficiency project, which will be implemented by the Romanian Ministry of Health.

The project focuses on prevention and out-of-hospital assistance as the most cost-effective way to improve health outcomes.

editor@romania-insider.com