CCR Rejects AUR's Challenge to the IBRD Loan, Repayable in 2044

Romania's Constitutional Court rejected on Monday the objection of unconstitutionality filed by parliamentarians from the AUR and SOS România groups against the law ratifying the loan agreement between Romania and the International Bank for Reconstruction and Development (IBRD). The ruling was announced at 15:12, following a session that began at 11:00.

The funds obtained through this loan are intended to finance the state budget deficit and refinance government public debt.

The bill ratifying the agreement, signed in Washington on 16 April 2026, was adopted by the Senate, acting as the decision-making chamber, on 6 August, with 83 votes in favour, 35 against, and three abstentions.

Repayment in 2044

The agreement establishes a maturity period of up to 18 years. Repayment will be made in full, in a single instalment, on 15 February 2044, when the maturity period expires.

The law stipulates: "The amounts drawn from the loan and transferred to the foreign currency account opened in the name of the Ministry of Finance at the National Bank of Romania shall be used as financing needs arise for the state budget deficit and for refinancing government public debt."

The Ministry of Finance, on behalf of the Government, will be entitled to negotiate any amendments to the agreement with the IBRD, provided that such amendments do not result in an increase in the financial obligations assumed by Romania.

Loan-related fees

According to the document, the IBRD charges a front-end fee of 0.25% of the total loan value. This must be paid either within 60 days of the agreement entering into force or prior to the first drawdown of funds, whichever occurs first.

A commitment fee of 0.25% per annum also applies, calculated on the undisbursed loan amount and payable on a semi-annual basis.

The law specifies that payment of the public debt service related to this loan — including principal repayment, interest, fees, and other costs — shall be made in accordance with the legislation in force governing public debt.