The Romanian Ministry of European Investments and Projects (MIPE) announced that, on January 13, EUR 1.94 bln would be disbursed into the Romanian state account, representing the pre-financing of the EUR 15 bln loan granted to the country under the Resilience Facility, after the targets and milestones set for the fourth quarter of 2021 were reached.

The disbursement comes after the EUR 1.85 bln disbursement on December 2, as pre-financing under the EUR 14 bln grant instrument of the Resilience Facility.

According to the Council Implementing Decision of November 3, 2021, the loan amounts will be made available in 10 instalments, based on the fulfilment by the Romanian side of the milestones and targets in the reforms and investments associated with the loan, MIPE explained.

MIPE will send, in the first part of 2022, the first payment request to the European Commission, based on the fulfilment of 24 targets and milestones related to the first quarter of 2022 (out of a total of 507 assumed throughout the plan).

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andrei@romania-insider.com