EU money for Romania’s infrastructure

The European Commission has approved the first payments under Romania's National Recovery and Resilience Plan

Leyla Cheamil, 24.10.2022, 13:50

Romania is set to receive the first payments under the
Recovery and Resilience Facility, intended for the country’s economic recovery. The European Commission has authorized
the first disbursements in the grant and the loan components of the plan. The
decision means EUR 2.6 bln coming Romania’s way.

Bucharest had applied for
these first payments in May, after meeting the 21 targets and milestones
related to the 4th quarter of 2021. In September, the European
Commission’s assessment of these targets was endorsed and forwarded to the
Economic and Financial Committee, which also approved it.

At the time, the
president of the European Commission, Ursula von der Leyen, said the positive
assessment had been prompted by good and quick progress in implementing the
first set of reforms and investments under the Plan.

This is a moment that
confirms the government’s consolidated effort, which translated into the
meeting of the targets and milestones undertaken by Romania for the last
quarter of 2021 and into reforms of major importance for our country,ˮ the
minister for European projects and investments, Marcel Boloş, said.
Realistically speaking, it is only the beginning of a long road ahead of us,
but one which, if key aspects in the Plan are completed, will result in
boosting the economy and in generating a solid multiplier effect for
investments in motorways, railway infrastructure, schools, hospital
infrastructure and everything related to the strengthening of the Romanian
economy,ˮ Marcel Boloş added.

The next payment
application will amount to a total EUR 3.2 bln, for which over 50 targets will
have to be met, related to the first half of this year.

Under the Recovery and
Resilience Facility, Romania can benefit from nearly EUR 30 bln. For the
implementation of its national plan, Bucharest has already cashed in 2
pre-financing instalments totalling around EUR 3.8 bln.

In related news, the
minister for European projects and investments stated last week that he hoped
the European Commission would endorse all the 8 regional operational programmes
by November, which would be a turning point in that it would be for the first time that local
authorities will make independent decisions on how to spend these EU funds. Marcel Boloș pointed out that half
of the 8 programmes for the 2021-2027 financial cycle have been approved, and
that they amount to a combined EUR 11 bln. The EU money for the regional
programmes may be used up until 2030. (AMP)