EU executive approves Romania’s € 29.2 billion stimulus package

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BRUSSELS, September 27 (Reuters) – The European Commission on Monday approved Romania’s € 29.2 billion plan to recover from the pandemic and transform the economy to become greener and more digitized in the years to come.

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

The plan, with Commission approval, will now go to EU finance ministers and once they agree in early October Romania will get € 3.6 billion in pre-financing for planned projects in the plan.

The funding is part of an initiative where the 27 countries in the bloc are to get money from an EU stimulus package worth 800 billion euros ($ 943 billion) . (Report by Jan Strupczewski)

Our Standards: Thomson Reuters Trust Principles.


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