EC close to making first disbursement to Romania under Resilience Facility

The European Commission approved on September 15 a preliminary positive assessment for Romania's first payment request under the Recovery and Resilience Facility (RRF), the key tool at the heart of NextGenerationEU. It amounts to about EUR 2.6 bln, of which EUR 1.8 bln grants and EUR 0.8 bln loans.

Romania submitted the request for the payment, contingent on 21 milestones and targets, at the end of May.

"I have good news for Romania. Sufficient progress has been made in its national recovery and resilience plan, Romania being thus prepared to receive the first payment under NextGenerationEU," President of the European Commission Ursula von der Leyen said on September 15.

However, the Economic and Financial Committee (CEF) will also have to assess whether Romania fulfilled the necessary steps for the payment, within four weeks, before the final approval from the Commission.

The 21 milestones and targets subject to the first tranche under RRF aim at reforms regarding sustainable transport, decarbonisation, road safety, the electricity market, the replacement of coal in the energy mix, the improvement of the fiscal administration processes, the intensification of the fight against corruption, the reform of the compulsory education system to prevent and reduce early school leaving, and the audit system and control of Romania for the implementation of the Recovery and Resilience Mechanism.

(Photo source: Dreamstime.com)