The positive assessment signals an important step toward the EU disbursing €14.2bn (US$16.4bn) in grants and €14.9bn (US$17.2bn) in loans to Romania. This financing will support the implementation of the crucial investment and reform measures outlined in Romania’s recovery and resilience plan.
The EU’s Recovery and Resilience Facility (RRF) is the key instrument at the heart of NextGenerationEU. It will provide up to €800bn (US$926bn) to support investments and reforms across the EU.
Romania will use part of the funding to modernize its railway infrastructure, including electrified or zero-emission railways and rolling stock.
Following the European Commission's adoption of the positive assessment of Romania’s National Recovery and Resilience Plan, the European Council now has four weeks to adopt the proposal.
The Council's approval of the plan would allow for the disbursement of €3.8bn (US$4.4bn) to Romania in pre-financing. This represents 13% of the total allocated amount for Romania. The Commission will authorize further disbursements based on the satisfactory fulfilment of the milestones and targets outlined in the recovery and resilience plan, reflecting progress on the implementation of the investments and reforms.
To view a factsheet on Romania’s recovery and resilience plan, click here.