Romania’s NRRP endorsed
Romania is given the green-light for the implementation of its National Recovery and Resilience Plan
Corina Cristea, 29.10.2021, 14:00
Romanias National Recovery and Resilience Plan is now ready for implementation, following the endorsement it received from the Economic and Financial Affairs Council. Over the next six years Romania could benefit from 29.2 billion euros, money allocated to stimulate the green and digital transition and to build a more resilient economy.
The financing will be accessible starting December, and in the next period the first money can arrive in the country in the form of a pre-financing granted by the European Commission, independent of the political developments in Bucharest.
The European Commission Vice-President Valdis Dombrovskis has stated that the formal written approvals will be ready in a few days. This allows Romania to access 13% of the total amount it was allocated. Dombrovskis has also stated that, irrespective of the interim government, from the point of view of the European Commission, if the pre-financing request comes from Romania, normally the Commission can support this request, because the condition for granting pre-financing is the approval of the recovery plan. “This condition has been met. It is clear that recovery plans must coexist with various policy developments in the Member States. That is part of the reality of a Union of 27 democracies”, Dombrovksis also said.
The money will be disbursed in installments depending on the fulfillment of objectives that would allow modernization through reforms and essential investments. The phasing out of coal-based electricity production and the use of renewable energy sources, as well as investments and reforms in the areas of building renovation, railway modernization, water and waste management, and afforestation and reforestation are measures that Romania has set out to implement in order to achieve its climate goals.
The amounts at its disposal will also be used to digitize public services, but also to strengthen the resilience of the health system. Romanias plan includes over 100 investments and 15 public policies, and the largest allocation is in transport, over 7.5 billion euros. The interim prime minister, Florin Cîţu, has stated that, through this national plan, Romania will benefit from a strong infusion of European funds, which will give it the opportunity to develop in the coming years.Moreover, Florin Cîțu has said, the implementation of the National Recovery and Resilience Plan will include 64 reforms and over 100 investments in all areas, so transport, health and education in particular will benefit from massive funding. (MI)
