The European Commission has wired 1.942 billion euro to the account of the Finance Ministry (FM) open at the National Bank of Romania (BNR), the sum representing pre-financing worth 13 percent of the loan of approximately 14.94 billion euro contracted by Romania as part of the Recovery and Resilience Facility, the Finance Ministry announced on Thursday."On January 13, 2022, with the entry into force of the Loan Agreement [the Recovery and Resilience Facility] between the European Commission and Romania, the sum afferent to the pre-financing in the loan component will be wired, totaling 1,942,479,890 euro, representing 13 percent of the total loan value. This amount comes to complete the first tranche of the pre-financing, on the grant component, paid by the European Commission on December 2, 2021, worth 1.85 billion euro. Thus, up to this moment, a total sum of 3.79 billion euro was granted to Romania, since the moment of approval and start of implementation of the PNRR [National Recovery and Resilience Plan] on November 3, 2021," the quoted source mentions.The sum for the implementation of the PNRR is 29,181,842,750 euro. Romania has requested non-returnable financial support worth 14,239,689,750 euro and loans of 14,942,153,000 euro as part of the Recovery and Resilience Facility. All of these represent 13.09 percent of the GDP reported in 2019.The plan contains 171 measures, of which 64 reforms and 107 investments, structured around six pillars and 15 components.The main objectives of the plan are to accomplish the green transition and the digital transition, consolidating, at the same time, medical assistance, education, social cohesion and inclusion.
Graffiti Plus (GRF+), active in Romania's communication consulting market, has signed the contract for the National Recovery and Resilience Plan (PNRR) funding for its listing on the AeRO market of the Bucharest Stock Exchange (BVB). GRF+ is also preparing to launch the private financing round it is conducting as a first step toward its debut […]
The wooden church from the village of Oncești, one of the oldest monuments in the heritage of the Maramureș Village Museum “Mihai Dăncuș” in Sighetu Marmației, has been restored. The church has now returned to the tourist circuit through the support provided by the US Ambassadors Fund for Cultural Preservation, in a project coordinated by […]
The Bucharest Stock Exchange (BVB) announced the establishment of its Corporate Governance Committee on Thursday, December 4, to support the implementation of the revised 2025 BVB Corporate Governance Code. Romania’s capital market recently celebrated 30 years of activity and is undergoing significant corporate governance reform. The revised BVB Corporate...
Daniel Băluţă, the mayor of Bucharest's District 4, signed the order to start work on the extension of the M4 subway line on Thursday, December 4. The investment is valued at EUR 3.5 billion and the route will be 11 kilometers long, between Gara de Nord and Gara Progresul railway stations. The extension will have 14 […]
Ten entrepreneurs and executives have launched Food Angels Hub, a community of investors dedicated to the food sector. The aim of the hub is to “develop and scale functional and profitable companies in the food, hospitality and food-tech sectors” and “turn Romania into a reference point for food innovation in the CEE region.” The founders […]
Romanian developer IULIUS announced that it secured a syndicated loan facility amounting to over EUR 305 million for its Palas Iași mixed-use complex. The financing is provided by a consortium made up of Erste Group Bank Austria, BCR, Raiffeisen Bank Romania, and Raiffeisen Bank International Austria. The loan will support the remodelling of Palas Iași […]
