Romania to get EUR 31 bln from the EC’s proposed EUR 750bln recovery plan

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Romania will receive around EUR 31 billion out of the European Commission’s proposed EUR 750 billion Recovery Plan to counter the COVID-19 pandemic, Romanian MEP Siegfried Muresan has announced today.
He posted on Facebook that those EUR 31 bln that Romania will receive will be most of them non-reimbursable funds, but also loans on favourable terms.
“We are talking about new EU funds, besides the structural and cohesion funds that Romania is getting anyway in the future EU multi-annual budget. It is an extremely consistent support that helps us recover after the crisis more easily. The money can be used to build many good things for the people”, Muresan stated.

In his turn, the EC Commissioner for Transports, Adina Valean, said that Romania will receive a total of EUR 31.206 billion only from the economic recovery fund Next Generation EU, with EUR 19.62 bln being grants and EUR 11.58bln loans.

According to Valean, Romania is the sixth country in terms of the total allotted sum in the EU after Italy (172 bln euro), Spain (140 bln), Poland (64), France (39) and Greece (32). Germany will get EUR 28 billion, while Hungary- EUR 15 bln.

The European Commission has proposed today a EUR 750 billion aid package to help Europe’s economic recovery from the fallout of the coronavirus pandemic, which has killed over 350,000 people globally.

The new recovery instrument is dubbed Next Generation EU, to address the economic damage caused by the outbreak.

“Next Generation EU (consists) of €750 billion as well as targeted reinforcements to the long-term EU budget for 2021-2027 (and) will bring the total financial firepower of the EU budget to €1.85 trillion,” the statement said.

The recovery fund would be embedded within the next long-term EU budget.

“The recovery plan turns the immense challenge we face into an opportunity, not only by supporting the recovery but also by investing in our future: the European Green Deal and digitalization will boost jobs and growth, the resilience of our societies and the health of our environment,” European Commission President Ursula von der Leyen said in the statement.

“This is Europe’s moment. Our willingness to act must live up to the challenges we are all facing. With Next Generation EU we are providing an ambitious answer,” von der Leyen stated, while asking Europeans “to put prejudices aside” and to endorse her recovery plan.

While such countries as Germany, France, Italy and Spain have hailed the EC President’s proposal, Austria, Denmark, the Netherlands, and Sweden — known as the “frugal four” — have opposed the plan, arguing the aid should instead come in the form of low-interest loans. Moreover, they said they would not agree to a mutualization of debt nor to an increase in the EU budget.

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