Ooni Koda
  1. Home
  2. /
  3. Newsfeed
  4. /
  5. Romania gets first tranche under PNRR, worth almost...

Romania gets first tranche under PNRR, worth almost 1.9 billion euros

December 23, 2021

Romania receives, on Thursday, the first tranche of PNRR (National Recovery and Resilience Plan), amounting to 1.851 billion euros out of the total pre-financing of 3.793 billion euros from the value of the financial contribution for 2021, the Government informs.According to a press release from the Executive, by the end of the year, Romania will also receive the pre-financing loan, amounting to 1.942 billion euros.In addition, next year Romania will receive funding of approximately 6.171 billion euros. For the year 2021 and the first quarter of 2022, 45 targets or milestones are planned, of which 5 are already fulfilled, and the rest are in progress, the same source also states.The government mentions that the achieved objectives are related to the coming into force of Law No. 50/2021 on the approval of the Government Emergency Ordinance no. 55/2016 regarding the reorganisation of the National Company of Motorways and National Roads of Romania - S.A. (CNAIR) and the setting up of the National Road Investment Company - S.A. (CNIR), and related to the law regarding the 5G networks security, the legal framework regarding the enrollment of legal persons contributors with the SPV (Virtual Private Space), as well as the modification of the national legislation regarding the means of attack (Law No. 101/2016).The goal of increasing the number of cash registers connected to the IT system of the National Agency for Fiscal Administration has also been achieved, with 466,288 cash registers already connected.In the next period, the Ministry of European Investments and Projects will sign financing agreements with the ministries that have the quality of coordinator of reforms and investments, based on the targets and milestones provided to be fulfilled by these institutions, the Government transmits.The National Recovery and Resilience Plan is structured on the 6 pillars provided by the Regulation of the Recovery and Resilience Mechanism and is divided into 15 components, so as to cover Romania's needs and simultaneously follow the European Commission's priorities. The six pillars are: the green transition, digital transformation, smart growth, social and territorial cohesion, health and economic, social and institutional resilience, policies for the next generation, children and young people.The money will be given in installments, depending on the fulfillment of certain objectives, called milestones and targets. In total, there are 507 milestones and targets to be achieved by August 31, 2026.In total, Romania will benefit from a funding of 29.2 billion euros from the Recovery and Resilience Mechanism to finance the reforms and investments included in the PNRR. More precisely, it is a grant worth 14.24 billion euros and a financing amounting to 14.942 billion euros, granted on advantageous terms, at the level of the costs of the European Commission, the same source also states.

The text of this article has been partially taken from the publication:
http://actmedia.eu/daily/romania-gets-first-tranche-under-pnrr-worth-almost-1.9-billion-euros/95272
Read in full - click here
Venice Commission says Romania’s electoral law amendment in 2024 has not breached international standards  

The substance of the revision, by emergency ordinance OUG 21/2024, of the merger of local and European elections in Romania in 2024 does not go against international standards, the Venice Commission concludes in a report published on March 18, while admitting that the procedure was still problematic in some aspects. Romania’s Government decided...

Investment fund Booster Capital prepares for first deal in Romania

Booster Capital, a private equity fund launched in late 2024, has reached an agreement to acquire a significant stake in Bisbags, one of Romania's leading manufacturers of paper bags and packaging, according to

Romanian investor confirms plans for EUR 400 mln airport near Bucharest  

Romanian company Avant Airports has confirmed in an email to Romania Insider its plans to develop Alexeni Airport, a EUR 400 million project near Bucharest, aiming to become the largest cargo hub in Eastern Europe within the next three years.  The announcement comes a year after the company signed a concession contract with local authorities […]

Cluj-Napoca airport considers issuing EUR 200-300 mln bonds to finance expansion

The local authorities in Cluj County, central Romania, are exploring the option of financing the expansion of the Avram Iancu International Airport in Cluj-Napoca through bonds issued at the Bucharest Stock Exchange (BVB). The airport would reach an annual capacity of 20 million passengers per year from 1.5 million currently. Alin Tişe, the president of […]

Romanian farm stores chain Agroland lists 2028 bonds with 9.5% coupon

Agroland Business System, which operates the largest network of agricultural stores in Romania, listed on the Bucharest Stock Exchange its second issue of registered, dematerialized, unsecured, and non-convertible bonds, with a total value of RON 6.92 million (EUR 1.4 million). The bonds carry a nominal fixed coupon of 9.75% / year, payable semi-annually, with the […]

Former Romanian prime minister Dacian Cioloș appointed honorary advisor to interim president

Romania’s interim president Ilie Bolojan is set to appoint former prime minister Dacian Cioloș as honorary advisor starting March 20, according to an announcement from the Presidential Administration. He will be responsible for involvement in coordinating and monitoring the implementation of Romania’s strategic partnerships. Dacian Cioloș served as the prime minister of the technocratic government between […]