Romanian Far-Rightists, Democrat-Liberals Eye EUR5B From Forex Reserve For Agriculture

Grater Romania Party secretary general Gheorghe Funar, who is among the initiators of the draft law, told a news conference Friday the money would be assigned based on projects.

"We’ve drafted a law targeting the use of EUR5 billion from Romania’s foreign currency reserve for investments and upgrades in agriculture. Sums will reach beneficiaries through (state-owned savings bank) CEC, with an interest of 1%, as loans granted over periods of three to 15 years,” Funar said.

The law’s initiators said the measure would secure Romania’s food supply and would help lower the country’s trade deficit.