The Romanian Plan for Recovery and Resilience (PNRR) was finally signed by the European Commission on September 29. The scope of this EU-wide program is to bring the European economy back on track and to mitigate the effects of the Covid crises by encouraging reforms and investments.
Romania can receive up to 29,8 billion Euro – about half of it grants, the remaining part loans. But the preconditions are that the underlying reforms must be implemented, and the funds spent until the end of 2026 – if the deadline will be missed, the funds cannot be accessed by Romania. At least 37% of the total amount will have to be spent for reduction of emissions, at least 20% for digitization. Romania surpassed both thresholds by a narrow margin.
Before becoming legally effective, the program will have to be approved by the European Council – this should be accomplished by the end of October.