Legal provisions of COM(2021)608 - Approval of the assessment of the recovery and resilience plan for Romania

Please note

This page contains a limited version of this dossier in the EU Monitor.

dossier COM(2021)608 - Approval of the assessment of the recovery and resilience plan for Romania.
document COM(2021)608 EN
date September 27, 2021

Contents

Article 1 - Approval of the assessment of the RRP

The assessment of the RRP of Romania on the basis of the criteria provided for in Article 19(3) of Regulation (EU) 2021/241 is approved. The reforms and investment projects under the RRP, the arrangements and timetable for the monitoring and implementation of the RRP, including the relevant milestones and targets and the additional milestones and targets related to the payment of the loan, the relevant indicators relating to the fulfilment of the envisaged milestones and targets, and the arrangements for providing full access by the Commission to the underlying relevant data are set out in the Annex to this Decision.

Article 2 - Financial contribution

1. The Union shall make available to Romania a financial contribution in the form of non-repayable support amounting to EUR 14 239 689 750. An amount of EUR 10 211 538 399 shall be available to be legally committed by 31 December 2022. 9 Subject to the update provided for in Article 11(2) of Regulation (EU) 2021/241 results in an updated maximum financial contribution for Romania that is equal to or more than EUR 14 239 689 750, a further amount of EUR 4 028 151 351 shall be available to be legally committed from 1 January 2023 until 31 December 2023. If the update provided for in Article 11(2) of Regulation 2021/241 results in an updated maximum financial contribution for Romania that is less than EUR 14 239 689 750, the difference between the updated maximum financial contribution and the amount of EUR 10 211 538 399 shall be available to be legally committed in accordance with the procedure set out in Article 20(8) of Regulation (EU)2021/241 from 1 January 2023 until 31 December 2023.

2. The Union financial contribution shall be made available by the Commission to Romania in instalments in accordance with the Annex to this Decision. An amount of EUR 1 851 159 668 shall be made available as a pre-financing payment, equal to 13 % of the financial contribution. The pre-financing and instalments may be disbursed by the Commission in one or several tranches. The size of the tranches shall be subject to the availability of funding.

3. The pre-financing shall be released subject to the entry into force of, and in accordance with the financing agreement. Pre-financing shall be cleared by being proportionally deducted against the payment of the instalments.

4. The release of instalments in accordance with the financing agreement shall be conditional on available funding and a decision by the Commission, taken in accordance with Article 24 of Regulation (EU) 2021/241, that Romania has satisfactorily fulfilled the relevant milestones and targets identified in relation to the implementation of the RRP. In order to be eligible for payment, Romania shall complete the milestones and targets no later than 31 August 2026, subject to the entry into force of the legal commitments referred to in paragraph 1.

Article 3 - Loan support

1. The Union shall make available to Romania a loan amounting to a maximum of EUR 14 942 153 000.

2. The loan support shall be made available by the Commission to Romania in instalments in accordance with the Annex to this Decision. An amount of EUR 1 942 479 890 shall be made available as a pre-financing payment, equal to 13 % of the loan. The pre-financing and instalments may be disbursed by the Commission in one or several tranches. The size of the tranches shall be subject to the availability of funding.

3. The pre-financing shall be released subject to the entry into force and in accordance with the loan agreement. Pre-financing shall be cleared by being proportionally deducted against the payment of the instalments.

4. The release of instalments in accordance with the Loan Agreement shall be conditional on available funding and a decision by the Commission, taken in accordance with Article 24 of Regulation (EU) 2021/241, that Romania has satisfactorily fulfilled the additional milestones and targets covered by the loan and identified in relation to the implementation of the RRP. In order to be eligible for payment, Romania shall complete the additional milestones and targets no later than 31 August 2026.

Article 4 - Addressee

This Decision is addressed to Romania.