On Wednesday, the European Parliament approved nearly EUR 455 million in EU Solidarity Fund aid in response to recent natural disasters in Romania, Italy and Turkey.According to a press statement released by the European Parliament on Wednesday, Romania will get EUR 33.9 million following damage caused by severe 2022 drought; Italy will get EUR 20.9 million for the damage caused by the September 2022 flooding in the Marche region, and Turkey will receive EUR 400 million following two major earthquakes in February 2023.MEPs express their "deepest solidarity with all the victims, their families and all the individuals affected" by the natural disasters in Romania, Italy and Turkey. They point to the "increasing number of severe and destructive natural disasters in Europe," and stress that "due to climate change extreme weather events such as those observed in Romania and Italy resulting in emergencies are going to further intensify and multiply." The EU should therefore "strengthen its efforts to tackle climate change both in the Union and globally."The European Commission has proposed to use the European Union Solidarity Fund (EUSF) to grant financial assistance of EUR 454,835,030to the three countries. EUSF assistance will cover parts of the costs of emergency and recovery operations like repairing damaged infrastructure, securing preventive infrastructure and the protection of cultural heritage, as well as clean-up operationsUnder the fund's rules, emergency and recovery operations may be financed by the EUSF retroactively from day one of a disaster.The aid package was approved by 593 votes in favour, 11 votes against and 22 abstentions. The European Council has already approved the aid on 18 September.
This article series tells the stories of the 15 finalists selected in the BVB Arena program. BVB Arena is the flagship program of the Bucharest Stock Exchange, dedicated to developing and promoting the Romanian entrepreneurial environment. The program’s goal is to select and promote Romanian companies that have the greatest growth potential and high chances […]
Salt Bank, the first 100% digital Romanian bank built entirely from scratch, has been named by Celent as the 2025 Model Bank for Digital Bank Launch. Celent is one of the world’s most prestigious research and advisory firms focused on technology for financial institutions. By receiving the title of "2025 Model Bank for Digital Bank […]
The 8th edition of the national educational program “Healthy Lifestyle, Diverse Nutrition and an Eco-Responsible Attitude” under the motto “Good for Taste, Good for Health, Good for the Planet!” has concluded. The program was organized by the Taste Celebration Association and funded by the Auchan Foundation with 100,000 euros. The program aims to convey to […]
Romania's budget deficit, meaning the gap between revenues and expenditures, reached 3.39% of GDP after the first five months of the year, while the new government grapples with balancing initiatives. The deficit increased compared to the first four months, when it stood at 2.95% of GDP, and remained roughly stable compared to the first five […]
eLog, a Balkan-based provider of reusable transport packaging systems for the retail sector, has entered the Romanian market by leasing 4,000 sqm of warehouse and office space at CTPark Bucharest North. The facility, developed by CTP, will serve as eLog’s first operational hub in Romania, supporting its expansion into local retail logistics. Specializing in Retail […]
More than three-quarters of Romanians (76%) see Artificial Intelligence as an opportunity for the economy and society, although half of them also acknowledge its risks, according to a new RoCoach and Novel Research study. Overall, over one-third of respondents (35.7%) believe that AI will primarily lead to job losses, even if new types of roles […]
