EU exec approves Romania's 29.2 bln euro recovery plan

by Reuters
Monday, 27 September 2021 15:15 GMT

BRUSSELS, Sept 27 (Reuters) - The European Commission approved on Monday Romania's 29.2 billion euro plan to recover from the pandemic and transform the economy to become greener and more digitalised in coming years.

Under the scheme, Romania will get from the EU 14.2 billion euros in grants and 14.9 billion euros in very cheap loans until 2026. The Commission said that 41% of the total amount would be spent on measures to reduce CO2 emissions and 21% on making the country ready for the digital age.

The plan, with the Commission's approval, will now go to EU finance ministers and once they give their consent in early October, Romania will get 3.6 billion euros in pre-financing for projects foreseen under the plan.

The funding is part of an initiative under which all the bloc's 27 nations are to get money from an EU recovery scheme worth 800 billion euro ($943 billion). (Reporting by Jan Strupczewski)

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