EC transfers another EUR 1.9 bln to Romania as National Recovery and Resilience Plan installment

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The European Commission has transferred EUR 1.9 billion to Romania as a pre-financing installment within the National Recovery and Resilience Plan.

This sum comes after a previous one of EUR 1.8 billion given to Romania as grants on December 2, 2021.

Overall, Romania has received at present 13% of the total allocation within the recovery and resilience mechanism.

According to the European Commission, our country will receive a total amount of EUR 29.2 billion, of which EUR 14.2 billion in the form of grants and EUR 14.9 billion in the form of loans, for the entire duration of the plan (NRRP). The loan and grant agreements were signed separately for procedural reasons related to the changes in the composition of the Romanian government in the autumn of 2021.

The Council’s implementation decision of November 3, 2021 states that the loan amounts will be made available in ten installments, based on the Romanian side meeting the milestones and targets in the reforms and investments associated with the loan.

The amount related to the implementation of NRRP is 29,181,842,750 euros. Romania requested non-reimbursable financial support amounting to 14,239,689,750 euros and loans of 14,942,153,000 euros under the Recovery and Resilience Mechanism. All this represents 13.09% of GDP reported in 2019.

The plan contains 171 measures, including 64 reforms and 107 investments, structured around six pillars and 15 components. The main objectives of the plan are to achieve the green transition and the digital transition, while strengthening healthcare, education, social cohesion and inclusion.

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