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November 22 (SeeNews) - The European Commission (EC) has positively assessed Romania's modified recovery and resilience facility (RRF), now worth 28.5 billion euro ($31 billion).
The plan now includes a REPowerEU chapter and 14.9 billion euro in loans and 13.6 billion euro in grants, the European Commission said in a press release on Wednesday.
The modified plan has a strong focus on the green transition, allocating 44.1% (up from 41% in the original plan) of the available funds to measures that support climate objectives. The plan also emphasises digital preparedness and social resilience measures.
Changes to Romania's RRF also reflect other economic challenges such as high inflation experienced in 2022 and 2023 and supply chain disruptions caused by the impact of the war in Ukraine.
The Council is expected to endorse the revised plan within four weeks, which will allow Romania to receive 288 million euro in pre-financing of REPowerEU funds.
Romania has so far received 9.06 billion euro under the RRF.
"The Commission will authorise further disbursements based on the satisfactory fulfilment of the milestones and targets set out in Romania's revised recovery and resilience plan, reflecting progress on the implementation of the investments and reforms," the EC concluded.
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