The European Parliament has adopted the Recovery and
\nResilience Facility, a 672.5 billion Euros system of loans and grants available
\nto support reforms and investment undertaken by member states with a view to mitigating
\nthe economic and social impact of the Coronavirus pandemic. <\/p>\n
\n
\n
\n
<\/p>\n
The instrument is expected to enter into force in the
\nsecond half of February and member states will have to prepare recovery and
\nresilience plans that set out a coherent package of reforms and public
\ninvestment projects. 13% of the sums can be made available right away and 70%
\nmust be contracted until the end of next year. It is essential to defeat the
\nvirus with vaccines but we also have a duty to help citizens, enterprises and
\ncommunities to get out of the economic crisis, the head of the European
\nCommission Ursula von der Leyen said. <\/p>\n
\n
\n
\n
<\/p>\n
The mechanism has been structured around several main pillars:
\ngreen
\ntransition, digital transformation, economic cohesion, productivity and
\ncompetitiveness; social and territorial cohesion; health, economic, social and
\ninstitutional resilience; policies for the next generation.<\/p>\n
\n
\n
\n
\n
\n
<\/p>\n
The new financial mechanism is expected to allow the
\nEU to reach its goal of climate neutrality and make headway in the process of
\ndigital transition creating fresh jobs and boosting economic growth. <\/p>\n
\n
\n
\n
<\/p>\n
Romania has been earmarked 30.44 billion euros in
\nfunds that can be used to build and streamline its hospitals, to fund plans for
\nthe institutional training and crisis response as well as for child & youth
\npolicies. The national recovery and resilience plans should devote at least 37%
\nof total expenditure to investments and reforms that support climate objectives
\nand at least 20% to digital transition. The money could not be used to fund 5G
\nnetworks of some hostile companies from outside the EU. Funds also cannot be
\nused to cover budget deficits and expenses. Romania’s recovery plan is
\ncurrently under public discussion and permanent talks are being held with
\nEuropean Commission representatives. <\/p>\n
\n
\n
\n
\n
\n
<\/p>\n
Romania’s Prime Minister Florin Citu has hailed the vote
\nin the European Parliament underlining that money is important in the recovery
\nof an economy affected by the medical crisis. ‘We are going to use this money
\ncarefully to fund investment in infrastructure, digitization, green economy and
\nstructural reforms. The government wants to complete as soon as possible the National
\nPlan of Recovery and Resilience so that Romania may have access to this
\nEuropean funding shortly, the Romanian official went on to say. <\/p>\n
\n
<\/p>\n
(bill)<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
The EU relies on a new instrument to reduce the social and economic effects caused by the pandemic<\/p>\n","protected":false},"author":104,"featured_media":87586,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[37738],"tags":[34836,35389,29120,34492,35531,35476,36044],"coauthors":[],"class_list":["post-88061","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-today-in-the-news","tag-5g","tag-citu","tag-eu","tag-money","tag-plan","tag-recovery","tag-resilience"],"acf":[],"yoast_head":"\n