Brussels, 3 December 2021 (TDI): Under the Recovery and Resilience Facility (RRF), the European Commission splurged €1.8 billion for pre-financing to Romania which is 13% of the country’s grant allotment amount, on the 2nd of December.

The aim of prefinanced amounts is to succor in recovery and resilience planning and investment implementation. Romania will receive €29.2 billion, including €14.2 billion granted amount and loan for €14.9 billion.

Revelatory Investment and reform projects

The RRF subsidizes investment and reforms that would be anticipated to help in transforming the economy and society in Romania in terms of development. Significant reassures are:

Green Transaction

According to Romanian Plan, an investment of €3.9 billion is obliged for Railway renovation. The amount of €2.7 billion for investing in the energy-efficient renovation, Seismic renovation of public and family buildings.

In addition, it will allocate €855 million amount for supporting clean energy production by bringing forward coal and lignite power production, deployment of renewables, and hydrogen, and €1.1 billion amount for environmental protection measures.

Digital Transition

The plan requires an amount of €1.5 billion for the digitalization of public administration, including civil service management, social protection, justice, tax and customs, cybersecurity, building government cloud infrastructure, and issuing electronic identity cards to Romanians.

Economic and Social Resilience

The plan €3.9 billion includes supporting effective decision making and strength budgetary framework, reforms of tax, the pension system, the strength of the health system through the renovation of hospitals, the education system, development of trade and transport infrastructure.

President of European Commission Ursula von der Leyen said: “I am delighted to see Romania receive its first disbursement of €1.8 billion under NextGenerationEU. This is an important step in implementing the measures contained in Romania’s €29.2 billion recoveries and resilience plan. I welcome reforms and investments facilitating the twin green and digital transitions. European funds will help modernize the health system and strengthen public administration in Romania. We will stand with Romania every step of the way to ensure that its people fully benefit from the plan.”

 Johannes Hahn, European Commissioner for Budget and Administration said: “Our NextGenerationEU funds raised on the financial market continue to support the digital and green transition in the EU Member States, as just now with the disbursement of the pre-financement to Romania. I am sure that the Romanian citizens, businesses, and the society as a whole will profit from the transformative investments and projects.”

Paolo Gentiloni, European Commissioner for Economy, said: “Today marks an important step for Romania’s recovery as the country receives €1.8 billion in pre-financing. Romania’s recovery and resilience plan is a blueprint for a more prosperous and sustainable future for the country, in environmental as well as social terms. This is a big plan, both in terms of funding and the ambitious reforms and investments set to be implemented in the coming years. The European Commission will support the Romanian authorities in their efforts to deliver on these commitments, which if successfully implemented will bring tremendous benefits to Romania’s citizens and businesses.”

 

Leave a Reply