“City hall funds could thus be better managed,” said Teodorovici on Saturday in Sinaia, at a specialized seminar organized by the Ministry.
According to Teodorovici, such a change would make mayors more responsible. The measure would be introduced gradually, and initially this would apply only to authorities who meet certain performance standards, and have had responsible financial behavior in the past.
The draft for this change will be completed by year-end, to be approved by the government and launched in a public debate.
Teodorovici added that the auction to assign the banks to administer the Treasury’s foreign currency accounts, mainly from European Union (EU) funds, will be launched within two weeks.
MEF could also launch a euro-denominated bond issue on the local market by the end of this year, according to Teodorovici. He indicated that of the loan program announced for the final quarter, of some RON 5 billion (€1.37 bln), RON 250-500 million (€68.94-137.88 mln) could come from the down payment on the loan contract with the European Investment Bank (EIB).
EIB approved two loans for Romania in October, worth up to €1.026 bln, for the co-financing of structural and cohesion funds of three programs and the rehabilitation of water networks and sewerage systems in the Cluj and Salaj Counties, the first worth €1 bln, and the second up to €26 mln.
