Funds worth 1.9 billion euros will enter the Romanian state's account on Thursday, representing pre-financing from the loan granted to Romania, through the National Recovery and Resilience Plan (PNRR), after the targets and milestones of the fourth quarter of 2021 have been reached, the Ministry of European Investments and Projects (MIPE) informs in a release sent on Wednesday."On January 13, 2022, with the entry into force of the Loan Agreement (Recovery and Resilience Mechanism) between the European Commission and Romania, the amount related to the pre-financing of the loan component will be transferred, amounting to 1,942,479,890 euros, representing 13% of the total loan amount, in addition to the first tranche of pre-financing, on the grant component, paid by the European Commission on December 2, 2021, amounting to 1.85 billion euros. Thus, until now, a total amount of 3.79 billion euros was granted to Romania, from the moment of approving and starting the implementation of PNRR, on November 3, 2021," the quoted source states.The Council's implementing decision of November 3, 2021 states that the loan amounts will be made available in ten installments, based on the Romanian side meeting the milestones and targets for the loan reforms and investments."The loans from this program, drawn in very advantageous conditions, will be used to finance large-scale projects for Romania, whether we are talking about hundreds of kilometers of motorway, tens of thousands of homes connected to water and canal networks, facilities for digitization a few thousands of SMEs or tens of thousands of reforestation hectares. Access to these funds is conditional on the implementation of the reforms undertaken by PNRR and therefore requires a joint effort of all coordinators," said the Minister of Investment and European Projects Dan Vilceanu.The representatives of MIPE emphasize that the institution will send, in the first part of 2022, the first request for payment to the European Commission, based on the fulfillment of the 24 targets and milestones related to the first quarter of 2022, out of the total of 507 assumed throughout the plan.The amount related to the implementation of PNRR is 29,181,842,750 euros. Romania requested non-reimbursable financial support amounting to 14,239,689,750 euros and loans of 14,942,153,000 euros under the Recovery and Resilience Mechanism. All this represents 13.09% of GDP reported in 2019.The plan contains 171 measures, of which 64 are reforms and 107 are investments, structured around six pillars and 15 components.The main objectives of the plan are achieving the green transition and the digital transition, while strengthening healthcare, education, social cohesion and inclusion.
TEKUNI, a program dedicated to students and young entrepreneurs, was launched in Timișoara through a pilot project, with a future goal of nationwide expansion. The program offers a complete training path, structured into 7 modules that cover all stages of building a startup: from idea validation and MVP development to branding, marketing, legislation, finance, leadership, […]
The Romanian capital will be in the spotlight at the festival Un Week-end à l'Est, which runs in Paris until December 1. The event, which aims to present the artistic, literary, and intellectual richness of an Eastern European city, has previously focused on Warsaw, Odessa, Kyiv, Sofia, or Budapest. At its ninth edition, it is […]
Romanian tax agency ANAF has sued former president Klaus Iohannis in order to recover the loss of use of half of a property in the center of Sibiu. “The action represents a continuation of the steps that ANAF has taken for the recognition of the state’s ownership right and the recovery of compensation determined by […]
Romania will face Turkey in the semi-final of the World Cup qualifying play-offs, with the match scheduled to take place away from home on March 26 next year, Biziday.ro reported. A win would send the national team into the play-off final on March 31, where it would meet the winner of the Slovakia–Kosovo match. Romania […]
An exhibition showcasing various depictions of the traditional Romanian blouse ia, including Henri Matisse’s iconic La Blouse Roumaine, is opening this weekend in Bucharest, while Cluj is entering festive mode with...
Mercenary Horațiu Potra, who faces charges of attempting to undermine constitutional order in Romania, is being flown back to Bucharest under police escort after authorities in the United Arab Emirates approved his extradition,
