Bucharest, 26 July 2022 (TDI): Romania will receive €31.5 billion from the EU commission to support its economic, social, and territorial cohesion. This funding is under the EU cohesion policy.
The partnership will boost Romania’s healthcare system, sustainable transport, employment, skills and fight against poverty, and sustainable fisheries.
€31.5 billion to support Romania’s economic, social and territorial cohesion.
The adoption of the Partnership Agreement for 2021-2027 will boost its:
👩⚕️Healthcare system
🚆Sustainable transport
👩💻Employment, skills and fight against poverty
🌊Sustainable fisheries— European Commission 🇪🇺 (@EU_Commission) July 25, 2022
€4.33 billion for the European region and development Fund will support Romania’s innovative economic transformation. Moreover, It will help small and middle-sized businesses. Also, the agreement includes promoting research and innovation, especially with Business-Academia collaboration.
Under this partnership, €6.75 will be invested in Green Energy, carbon reduction, biodiversity conversion, risk management, and sustainable urban mobility measures.
In addition, to support the water sector and circular economy focus on recycling and reuse, €2.34 billion will be spent.
It will focus on transitioning from a linear to a circular economic model.
Likewise, €2.14 billion will be invested to mitigate the social and environmental effects due to the transition toward carbon neutrality.
The Just Transition Fund (JTF) will focus on areas of Romania which are affected by the phasing out of coal and shifted towards sustainable Growth.
Invest in Health Care:
€2.3 billion will be invested in health to ensure citizens’ access to health. It will also rejuvenate the health sector improving quality and effectiveness.
Besides, It targets the vulnerable class of society, thus, reducing inequalities.
Social skills and fight against poverty:
€7.3 billion will be utilized to provide employment opportunities for the Youth and improve the quality of education. The public employment sector of Romania will be improved under this program
€3.5 billion will be used to access childhood education, thus reducing early school leaving.
Additionally, the quality of Vocational and tertiary education will also be improved.
The Cohesion policy:
The Cohesion policy, also called The regional policy of the European Union, is an initiative of the European Union to improve the economic condition of the European Union, consequently reducing the economic discrepancies between different regions of the block. EU spends more than one-third of its budget on this policy to reduce social inequality across the union.
This policy targets the less developed areas of the region.
EU spends more than one-third of its budget on this policy to reduce social inequality across the block. This policy targets the less developed areas of the region.
Romania is the 18th country to adopt this policy.
Before, Greece, Germany, Austria, Czechia, Lithuania, Finland, Denmark, France, Sweden, the Netherlands, Poland, Bulgaria, Cyprus, Portugal, Estonia, Slovakia, and Italy signed partnership agreements with European Union.
