EU Council greenlights Romania's modified recovery plan

The assessment came during a meeting of the Council of Ministers for Economic and Financial Affairs (ECOFIN) on December 8, the ministry said in a press release. The Council is now expected to issue a new implementation decision.

The updated PNRR includes 66 reforms and 111 investments, with a total allocation of 14.9 billion euro in the form of loans and 13.6 billion euro in the form of grants.

"The NPRR, in its new version to which we have added the REPowerEU chapter, puts a decisive emphasis on the transition to sustainability and green energy," said Adrian Caciu, minister of investments and European Projects.

The revised plan places a strong emphasis on the green transition, allocating 44.1% of available funds for measures supporting climate goals, up from 41% in the original plan. Also, the allocation of funds for the digital transition of the country increases, from 20.5% to 21.8%.

Romania's revised NPRR was approved approved the European Commision last month.

($=0.929484 euro)