NextGenerationEU: Commission disburses first payment of €2.6 billion to Romania under the Recovery and Resilience Facility
Daily News 27 / 10 / 2022
Source: European Commission Spokesperson's Service
Today's payment of €2.6 billion (€1.8 billion in grants and €0.8 billion in loans, net of pre-financing) was made possible by Romania's fulfillment of the 14 milestones linked to the first instalment. They cover several reforms contributing to the digital transition, as well as in the areas of sustainable mobility, decarbonisation, audit and control, education and health, and preliminary steps in tax and pension reforms. Measures to support businesses and to ensure the country's good governance are also included. As for all Member States, payments under the Recovery and Resilience Facility (RRF), the key instrument at the heart of NextGenerationEU, are performance-based and contingent on Romania implementing the investments and reforms outlined in its Recovery and Resilience Plan. On 31 May 2022, Romania submitted to the Commission a payment request based on the achievement of the 14 milestones set out in the Council Implementing Decision for the first instalment. On 15 September 2022, the Commission endorsed a positive preliminary assessment of Romania's payment request. The favorable opinion of the Economic and Financial Committee on the payment request paved the way for the Commission to adopt a final decision on the disbursement of the funds. The overall Recovery and Resilience Plan of Romania will be financed by €12.1 billion in grants and €14.9 billion in loans. The amounts of payments made to Member States are published on the Recovery and Resilience Scoreboard, which shows the progress made in implementing the RRF as a whole and individual recovery and resilience plans. More information on the RRF payment request process is available in this Q&A document. More information on the Romanian Recovery and Resilience Plan can be found here.