The funds targeted the development of municipal water networks.
Government spokesperson Andrei Zaharescu said it could not point out the exact authorities responsible for losing the money.
Banks-Insurance
Romania Fails To Draw EUR1.1M From EIB In Time
Romania will lose over EUR1.1 million from loans agreed with European Investment Bank EIB, over public authorities failure to draw the money by August 31, 2011 deadline, according to a Government decision approved Thursday.