Extraordinary Senate session called for Ordinance on administrative-territorial units' Treasury loans

The Senate's Standing Bureau will call on Wednesday an extraordinary plenary session for an information on the government's adopting on July 28, during the parliamentary recess, of the emergency ordinance regulating the possibility of administrative-territorial units to access State Treasury loans.

At the end of the Executive's meeting last week, Prime Minister Florin Citu said the amount is 630 million lei.

"The ordinance regulates the possibility of administrative-territorial units to access loans for interest rates between 1 and 1.5 percent, depending on wether the repayment period is up to 3 years or 5 years, respectively. It is an ordinance many of Romania's administrative-territorial units were expecting since long," the Prime Minister explained, Agerpres informs.

According to Article 115 of the Constitution, an emergency ordinance comes in force only after it is submitted for debate in a fast-track procedure to the competent Chamber notified - the Senate in this case, and after its publication in the Official Journal. During recess, the session of the Chambers of Parliament must be convened within 5 days after the document's submission or referral.

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