AGREEMENT FOR THE FUNDING OF THE ROUMANIAN 
WAR DEBT TO THE BRITISH GOVERNMENT. 
The Undersigned, duly authorised by their respective Govern- 
ments have agreed as follows :— 
1. In full and final settlement of the net War Debt due by the 
Government of the Kingdom of Roumania (hereinafter called 
Roumania) to the Government of His Britannic Majesty (herein- 
after called Great Britain), in respect of which Debt Great 
Britain holds Roumanian Treasury Bills to the face value of 
€18,448,200, Roumania agrees to pay and Great Britain to 
accept the following annuities :— 
in 
1926 
1927 
1928 
1929 
1930-34 
1935-44 
1945-66 
1967-R7 
50,000 
100,000 
150,000 
200,000 
250,000 
275,000 
500,000 
750. 000 
These Annuities will be payable in equal half-yearly instal- 
ments on 15th May and 15th November of each year, with the 
exception of the Annuity for 1926, which will be payable in 
full on 15th November, 1926. 
Great Britain agrees to accept the reduced annuities provided 
for above during the years 1926 to 1944 inclusive in view of the 
liabilities of Roumania during those years under the Relief 
Bonds for £2.200.000 held by Great Britain. 
2. The payments provided for by this Agreement will be made 
in sterling to the Cash Account of His Majesty's Paymaster. 
(Feneral at the Bank of England. 
3. In the event of any of the payments provided for by this 
Agreement not being made by the due date, interest at the rate 
of 6 % per annum shall be payable for the period between 
he due date and the date of paviment. 
4. Roumania will issue and deliver to His Britannic Majesty's 
Treasury on or before 15th November, 1925, Bonds substan. 
tially in the form set out in the Annex to this Agreement in 
respect of each of the half-yearly payments provided for by this 
Agreement. These Bonds shall be exempt from all Roumanian 
taxation, present or future, so long as they are in the beneficial 
ownership of Great Britain or of a person, firm, association or 
corporation neither domiciled nor ordinarily resident in