Announcement of the European Commission, Amount of Money Approved for Romania

By
Adrian Gabor
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Announcement of the European Commission, Amount of Money Approved for Romania

The European Commission announced today the preliminary approval of Romania's first payment request amounting to 2.6 billion euros as part of the PNRR, of which 1.8 billion are grants and 0.8 billion are loans, the requests being made on May 31 by the authorities Romanians.

"The European Commission today approved a positive preliminary assessment of Romania's first payment request for 2,6 billion euros, of which 1,8 billion euros in the form of grants and 0,8 billion euros in loans, under the Facility Recovery and Resilience (RRR), the key tool at the heart of NextGenerationEU.

On 31 May 2022, Romania submitted to the Commission a request for payment based on the achievement of the 21 milestones and targets selected in the Council Implementing Decision for the first tranche. These cover reforms in the areas of sustainable transport, decarbonisation and road safety, in the electricity market, in replacing coal in the energy mix, in improving tax and fiscal administration processes, in intensifying the fight against corruption, as well as reforms. of the compulsory education system for the prevention and reduction of early school leaving and of Romania's audit and control system for the implementation of the RRF.

Through their application, the Romanian authorities provided detailed and comprehensive evidence demonstrating the achievement of the 21 milestones. The Commission assessed this information in detail before presenting its preliminary positive assessment of the payment request.

Romania's recovery and resilience plan includes a wide range of investment and reform measures in 15 thematic components. It is worth 29,2 billion euros in grants and loans, of which 13% (3,7 billion euros) has already been paid to Romania in pre-financing.

Payments under the RRF are performance-based and conditional on Member States implementing the investments and reforms outlined in their recovery and resilience plans."