The ministry of finances, Adrian Caciu, signed on Friday the agreement for a loan through the Mechanism of Recovery and Resilience signed between the European Commission and Romania, worth approximately 15 billion euro, money to be used for the financing of the state budget deficit and for the refinancing of the governmental public debt on the basis of budgetary expenses made for the reforms included in the National Plan for Recovery and Resilience (PNRR). ‘The loan will be used for the financing of the state budget deficit and for the refinancing of the governmental public debt on the basis of the bugetary expenses made for the reforms included in the National Plan for recovery and resilence (PNRR). The sums will be available in ten installments, on the basis of implementation by the Romanian party of the targets included in the reforms and investments associated with the loan’ announces the ministry of finances on Saturday. At the same time, the European Commission will make available a part of 13% from the loan (almost 1.94 euro) after the coming into force of the agreement. ‘We made an important step so that Romania receives the first part of money through the Mechanism of Recovery and Resilience. It is about approximately 15 billion euro for the budgetary expenses necessary for the reforms and investments included in PNRR.Now, the ministry of finances is going to sign an agreement with the ministry of investments and European projects through which the rights and obligations of the parties to implement the provisions of the Agreement for the loan, including the monitorisation of reaching the targets and the drawing up the reports required by the European Commission’ Adrian Caciu, minister of finances said. The period of the availability of the loan is 31st December 2026. Every draw, including prefinancing will have maturity of 30 years since the date of availability, out of which a period of grace of ten years. Reimbursement will be made in equal installment during the period to maturity. Romania benefits through PNRR from approximately 29.18 billion euro, out of which 14,24 billion euro grant and the rest is a loan.
Romanian prime minister Ilie Bolojan stated during an interview on Wednesday, December 17, that there should be no statute of limitations in cases of serious corruption. The statement comes after a Recorder investigation, which showed that several heads of the major institutions in the Romanian justice system allegedly delayed trials for years until wrongdoings were […]
President Nicușor Dan has challenged, before the Constitutional Court (CCR), the constitutionality of the law that requires that at least 40% of the athletes who play on a team in official national competitions be Romanian. Dan noted that the law violates the principle of non-discrimination and the free movement of workers, enshrined both in the […]
Craiova International Airport will open its new passenger terminal on Thursday, December 18, completing a major infrastructure investment aimed at significantly expanding capacity and improving air connectivity in southwestern Romania. It is part of a broader expansion and modernization project financed through the Large Infrastructure Operational Programme (POIM) 2014–2020, with a total value exceeding EUR […]
Romania is set to be connected to the Western European energy network thanks to grid investments worth EUR 30 billion. The funds will be provided by the EU by 2035, and the project will link Romania to Hungary and Austria in a joint project. Romanian energy minister Bogdan Ivan signaled the signing of the new […]
Franck Bagouet has been appointed managing director of TotalEnergies Marketing Romania SA and managing director of Automotive Southeast Europe Hub TotalEnergies Marketing. He succeeds Didier Grimault, who has accepted a new position within the TotalEnergies company. “I am glad to join this dynamic affiliate and confident that, together with our talented team, we will reinforce […]
Databricks, the data analytics and artificial intelligence company co-founded by Romanian professors Ion Stoica and Matei Zaharia, announced on Tuesday, December 16, that it is raising USD 4 billion in funding at a valuation of USD 134 billion, according to CNBC. The new valuation represents a 34% increase compared to the August round, when Databricks […]
