The loan stands at RON40 million and will be taken for 12 months to fund the day-to-day operation of the state-run company. The second item on the agenda of the meeting is taking out a loan for the “issuance of bank letters of guarantee/counter-guarantee/stand-by letters of credit” also from BCR, but for RON260 million.
The company says the money is intended for the performance of the supply contract “Bank Guarantee Letters to the Romanian Ministry of National Defense” and the clearing agreement “Bank Guarantee Letter to the Romanian Agency for Technological and Industrial Cooperation for Security and Defense”.
(English version by Loredana Fratila-Cristescu)