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Dec 16, 2022 13:57 EEST
December 16 (SeeNews) - Romania's ministry of European Investments and Projects said that Romania has sent to the European Commission (EC) a second request for payment of grants and loans under the Recovery and Resilience Facility (RRF) worth a total 3.2 billion euro ($3.4 billion).
The disbursement of the 2.1 billion euro in grants and 1.1 billion euro in loans is conditional on the fulfillment of 51 milestones covering several reforms and investments in various fields, the ministry said in a press release on Thursday.
In order for the EC to approve the disbursement request, Romania needs to make progresses in areas such as decarbonisation, energy efficiency, water and sewage management systems and cut red tape.
The country's next payment request, worth 3.1 billion euro, will be submitted to the EC in the spring of 2023. The disbursement of the third tranche will be contingent on the fulfilment of 55 milestones, related to the last two quarters of 2022.
Romania has thus far received 6.3 billion euro through the RRF out of the total allocation for the program, of 29.18 billion euro.
The EC approved Romania's recovery and resilience plan in September 2021.
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