The joint stock company Energocom will take out a revolving credit equal to €25 million repayable in at most 12 months, as the Commission for Exceptional Situations decided on November 17, IPN reports.
Under an order signed by Prime Minister Natalia Gavrilița, the Commission’s chair, the conditions of the loan agreement, the lending entity and the method of using the financial sources will be agreed by the Board of SA Energocom and will be confirmed by the Public Property Agency.
The loan will be raised by derogation from the law on procurement in the energy, water, transport and postal services sectors.
The revolving credit facility permits an account holder to borrow money repeatedly up to a set limit while repaying a portion of the current balance due in regular payments.
