European Commission approves Romania’s €29.2 billion coronavirus economic recovery plan

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Today, Monday, the European Commission approved Romania’s plan to recover from the economic effects of the emerging epidemic of the Corona virus “Covid-19” by approving the disbursement of 29.2 billion euros.

The Commission stated, in a statement published on its official website, that Romania will thus receive pre-financing payments under the Recovery and Resilience Facility (RRF); This helps it to begin implementing the critical investment and reform measures outlined in Romania’s economic recovery plan.

The RRF is the main instrument at the core of the EU’s Next Generation programme, the bloc’s plan to emerge stronger from the coronavirus pandemic, by providing €80 billion to support investments and reforms across the EU.

The Commission will allow further payments based on the implementation of the investments and reforms identified in the Romanian Recovery and Resilience Plan, which will receive a total of €29.2 billion over the life of its plan, which consists of €14.2 billion in grants and €14.9 billion in loans. “.

He added that Romania’s plan is part of the European Union’s unprecedented response to emerge stronger from the “Covid-19” crisis, promote green and digital transformations and enhance resilience and cohesion in the European community.

The statement indicated that Brussels will thus finance investments and projects that are expected to have a profound transformational impact on Romania’s economy and society, including measures to phase out coal and lignite production by 2032. Reforms that promote sustainable transport also include decarbonization of road transport and transformation. Model to rail and water transport. The plan also focuses on improving energy efficiency in private and public buildings.

In conclusion, the statement clarified that Romania’s plan also includes measures to digitize public administration and companies, improve communication, cyber security and digital skills, and develop an integrated system for e-health and telemedicine.

Source: A.S.A

The article European Commission approves Romania’s plan for economic recovery from Corona worth 29.2 billion euros, written in Al Borsa newspaper.