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The Government approved in its Wednesday sitting the first two documents to start the Romania's National Recovery and Resilience Plan (PNRR).
According to a release of the Executive, the documents are two memorandums by which the Government mandated the Ministry of European Investments and Projects and the Ministry of Finance to sign the Agreement regarding the non-refundable financial contribution and the Lending agreement between the European Commission and Romania.
"By the signing of these loans, Romania will benefit from financing worth 29.2 billion euro from the Mechanism for Recovery and Resilience for the financing of reforms and investments included in the National Recovery and Resilience Plan. More specifically, through the signing of the Agreement regarding the non-refundable financial contribution, Romania will benefit from a grant worth 14.24 billion euro, and by the signing of the Lending agreement between the European Commission and Romania, of financing worth 14.942 billion euro, granted on advantageous terms, at the level of costs of the European Commission," the release shows.
The quoted source mentions that, until the end of the year, Romania will benefit from pre-financing worth 3.793 billion euro, and in 2022 of financing worth approximately 6.171 billion euro, in both tranches through the Mechanism for Recovery and Resilience.
"Money will be granted in tranches, depending on the fulfillment of some objectives, called benchmarks and targets. In total, there are 507 benchmarks and targets that must be done by August 31, 2026," the release mentions.
The government mentions that the National Recovery and Resilience Plan is structured on the 6 pillars mentioned in the Rules of the Mechanism for Recovery and Resilience and divided into 15 components, so as to cover the needs of Romania and to follow, at the same time, the priorities of the European Commission. The six pillars are: green transition; digital transformation; intelligent growth; social and territorial cohesion; healthcare and economic, social and institutional resilience, policies for the next generation; children and youths.
