Romania submitted on Friday a request to the European Commission to amend its National Recovery and Resilience Plan (PNRR) and to add a new chapter on REPowerEU, which aims to strengthen the Union's strategic autonomy by diversifying energy supply and increasing the EU's independence and security of energy supply.According to a press release from the EU executive, the chapter on REPowerEU proposed by Romania covers two new reforms and six new investments, as well as a reinforced measure already in the plan. The reforms and investments in this chapter are related to increasing green energy production, improving the energy efficiency of buildings and strengthening the skills of the green energy workforce.The amendment to the plan proposed by Romania foresees the removal of four investments from the initial plan and the modification of about 70 measures.Romania's request to amend its plan is based on the need to take account of high inflation in 2022, supply chain disruptions and the downward revision of its maximum grant allocation under the Recovery and Resilience Mechanism (RRM) from EUR 14.2 billion to EUR 12.1 billion. This revision is part of the June 2022 update of the RRM grant allocation key and reflects Romania's comparatively better economic performance in 2020 and 2021 compared to the initial forecast.Romania has requested the transfer of its share of the Brexit adjustment reserve, amounting to EUR 43.2 million, to the NRRP. Together with the grants provided to Romania through the RRM and REPowerEU (EUR 12.1 billion and EUR 1.4 billion respectively) and the RRM loans already committed under the original plan (EUR 14.9 billion), these funds bring the value of the amended plan presented to almost EUR 28.5 billion.The Commission will now assess whether the amended plan continues to meet all the assessment criteria set out in the RRM Regulation.If the Commission's assessment is positive, the EC will present a proposal to amend the Council Implementing Decision to take account of the changes to the Romanian plan.Member states will then have four weeks to approve the Commission's assessment.
Romania has closed its participation in the 2025 Venice Architecture Biennale with the conclusion of Human Scale, the exhibition presented in the Romanian Pavilion at Giardini della Biennale and in the New Gallery of the Romanian Institute of Culture and Humanistic Research. Meanwhile, the project’s official catalogue has been made available to the public. The […]
The final version of Romania's national defence strategy 2025-2030, as amended following the public consultations and approved by the members of the Supreme National Defence Council (CSAT), is to be presented by president Nicusor Dan in Parliament, where it will be debated and voted on by lawmakers. The Romanian state must be prepared to manage […]
Romania aims, through its new National Defense Strategy, to become the second military power on the eastern flank and a defense provider in the Black Sea region, according to defense minister Ionuț Moșteanu. The new National Defense Strategy is a paradigm shift, the minister said. “A fundamentally different point of view is that we are […]
The 5 to go coffee chain, including over 650 units nationwide, is expanding its service portfolio through a partnership with Fibula Air Travel tour operator, for which it will distribute tourist packages, Ziarul Financiar reported. Fibula Air Travel has a significant presence in the markets...
The French group Groupe Atlantic is set to inaugurate the factory in Ariceştii Rahtivani, Prahova County, in the coming weeks, a greenfield investment of over EUR 50 million, announced Ziarul Financiar. So far, about EUR 40 million has been invested, and the remaining EUR 10 million is planned by the end...
Fondul Proprietatea (FP), as a minority shareholder (20%) at Bucharest Airports Company (CAB), proposed that the company could issue, under an IPO at Bucharest Exchange (BVB), a number of shares equal to half of its current shares, to finance the construction of a new terminal. The operation would preserve the state's majority position and generate […]
