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EC approves Romania's 100 mln euro forest regeneration support scheme

EC approves Romania's 100 mln euro forest regeneration support scheme Romanian forest Source: pixabay.com

BUCHAREST (Romania), May 24 (SeeNews) - The European Commission said on Tuesday that it has approved a 100 million euro ($107 million) Romanian funding scheme to support the regeneration of damaged forests.

The scheme aims to support forest owners to advance forest regeneration in areas affected by fires, adverse climatic events, pest infestations and catastrophic events, the EU's executive body said in a press release.

The aid scheme will be funded through the Recovery and Resilience Facility (RRF), following the Commission's positive assessment of the Romanian Recovery and Resilience Plan and its adoption by Council. The support will take the form of direct grants to private and public forest owners, as well as their associations.

The scheme will run until June 30, 2026, the EC said.

Romania is set to receive 29.2 billion euro in total under the RRF, consisting of 14.2 billion euro in grants and 14.9 billion euro in loans.

($=0.9335 euro)

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