July 20 (SeeNews) - Romania stands to receive 79.917 billion euro ($91.5 billion) from the European Union, which it will use for economic recovery and infrastructure development and modernisation, president Klaus Iohannis said on Tuesday.
"After some very complicated discussions and negotiations, after four days and four nights of negotiations, we obtained for Romania an impressive amount - 79.9 billion euro - for European projects. The negotiations now allow us to move to the next stage," Iohannis said in a televised statement broadcast on the official presidency's website.
According to the president, Romania will use the funds to relaunch its economy and rebuild its infrastructure, mainly schools and hospitals.
Iohannis also pointed out that the liberal government has been preparing a plan for the 2021 – 2027 multi-annual European budget, which will be presented to the European Commission, in order to receive the funds.
On Tuesday, the European Council adopted conclusions on the recovery plan and multi-annual financial framework for the 2021-2027 period, which could see member states get over 1,074.3 billion euro for economic recovery, a document posted on the Council's website showed.
The Council will now negotiate the plan with the European Parliament (EP). As soon as the EP adopts the final decision, member states will proceed with its approval as soon as possible, in accordance with their respective constitutional requirements, the document showed.
The Council also approved the European Commission's 750 billion euro recovery instrument - Next Generation EU, in the form of non-reimbursable grants and loans.
($=0.8729 euro)