Acasă » General Interest » EC approved Romania’s revised PNRR, worth 28.5 bln. euro

EC approved Romania’s revised PNRR, worth 28.5 bln. euro

22 November 2023
General Interest

The European Commission approved on Tuesday the revised National Recovery and Resilience Plan of Romania, worth 28.5 billion euros, a document which, in its modified form, also includes the REPowerEU chapter, informs the Ministry of European Investments and Projects (MIPE).

The PNRR allocation is currently 28.5 billion euros (14.9 billion euros in the form of loans, 13.6 billion euros in the form of grants) and covers 66 reforms and 111 investments.

“A great success for Romania and for the correct management and prioritization of the PNRR investments. We reset the objectives of the Plan to accelerate the green and digital transition, healthcare, public employment services and social protection, transport, education and, last but not least, taxation. We are cautious with state money, but prompt in accessing European funds and Romania’s development. I thank my colleagues from MIPE who worked tirelessly to achieve this goal, and those who commented from the sidelines and irresponsibly predicted the collapse , jeopardizing our position in front of external partners, I only tell them this: the limitation of 9.4% of GDP regarding the public pension system is no longer found in the amendment approved today, a sign that the Government’s measures and our word given before the Commission they have the necessary and sufficient credibility that the trajectory Romania is on is one of sustainable and responsible construction,” said Adrian Câciu, Minister of European Investments and Projects.

Through REPowerEU, Romania will benefit from additional non-refundable funds worth 1.4 billion euros. The REPowerEU chapter includes two new reforms and seven investments that focus on accelerating the production of green energy, increasing the energy efficiency of buildings and reskilling and improving the workforce in the field of green energy generation.

Romania’s amended plan places a strong emphasis on the green transition, allocating 44.1% (compared to 41% in the original plan) of available funds for measures supporting climate objectives. At the same time, the allocation of funds for the digital transition of the country increases, from 20.5% to 21.8%, MIPE states.

The revised plan includes the changes to the PNRR following the application of Article 11 paragraph (2) of the Regulation establishing the Recovery and Resilience Mechanism, which led to the reduction of the allocation of the grant component by 2.11 billion euros. Also included are adjustments generated by the increase in the prices of construction materials and the interruption of supply chains. At the same time, the limitation of 9.4% of GDP regarding the public pension system will no longer be found in the new Plan.

At the beginning of December, the revision of Romania’s National Recovery and Resilience Plan will be approved within ECOFIN – the Council of Finance Ministers, and then a new implementation decision (CID) will be issued by the Council of the European Union.

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