SeenewsSeenews
Search
Seenews
AlertsSeenewsSeenews
Searchclose
TOPICS
arrow
COUNTRIES
arrow
INDUSTRY
arrow
Economy
arrow
Browse Economy
Mix and match your focus countries with our advanced search
Investments
arrow
Browse Investments
Mix and match your focus countries with our advanced search
Latest in Investments
Politics
arrow
Browse Politics
Deals
arrow
Browse Deals
Mix and match your focus countries with our advanced search
SEE TOP 100
arrow
Browse SEE TOP 100
Latest in SEE TOP 100
Tech
arrow
Browse Tech
Mix and match your focus countries with our advanced search
Green
arrow
Browse Green
Mix and match your focus countries with our advanced search
0/5
You have 5 free articles left this month
You have 0/5 free articles
Sign up to get 5 more free articles this month
SIGN UP
arrow
LOGIN
arrow

Romania gets 1.1 bln euro funding from Modernisation Fund

Jun 25, 2024, 12:59:45 PMArticle by Alexandru Cristea
share
June 25 (SeeNews) - The European Commission said that the European Union provided 1.095 billion euro ($1.171 billion) in funding to Romania as part of the Modernisation Fund's first payment of this year.

Romania gets 1.1 bln euro funding from Modernisation Fund
European Commission. Author: Sébastien Bertrand. License: Creative Commons, Attribution 2.0 Generic.

On June 24, the EU disbursed a total of 2.967 billion euro to support 39 projects in ten countries, making it the largest payment to date and bringing the total spending of the programme to 12.65 billion euro, the Commission said in a press release on Monday. Romania received the highest amount of financing in this tranche.

Funded by revenues from the auction of emission allowances from the EU’s Emissions Trading System, the Modernisation Fund assists ten EU countries with lower incomes in their transition to climate neutrality by 2050.

Last month, Romanian electricity and heating utility Electrocentrale Bucuresti (ELCEN) said that it submitted a request for non-refundable financing to Romania's energy ministry, aiming to access the European Union's Modernisation Fund for the development of two cogeneration plants worth some 286 million euro in total.

($ = 0.935 euro)

Your complete guide to the emerging economies of Southeast Europe. From latest news to bespoke research – the big picture at the tip of your fingers.