On Thursday, the European Commission received from Romania the first request under the Recovery and Resilience Mechanism (MRR) for the payment of 1.8 billion euros in grants and 789.7 million euros in loans (without pre-financing), informs a press release of the Community Executive.
This first payment request is conditional on the fulfillment of 21 milestones covering several reforms and investments in the fields of energy efficiency, sustainable mobility, digital transformation, water management, health care, taxation and pensions, education, justice and the fight against corruption, support granted to the private sector and the audit and control system related to the Recovery and Resilience Mechanism. The Commission has two months to complete its assessment, according to Agerpres.
Subsequently, the Commission will submit to the Council’s Economic and Financial Committee (CEF) its preliminary assessment of Romania’s compliance with the milestones and targets that are necessary for this payment to be made.
Romania’s overall recovery and resilience plan amounts to 14.2 billion euros in grants and 14.9 billion euros in loans. The payments granted within MRR are based on the obtained performances and depend on the realization by Romania of the investments and of the reforms described in its recovery and resilience plan.