The Romanian Ministry of European Investments and Projects (MIPE) announced that €1.94bln would be disbursed on Thursday into the Romanian state account, representing the pre-financing of the €15bln loan granted to the country under the Recovery and Resilience Facility, after the targets and milestones set for the fourth quarter of 2021 were reached, according to Romania-Insider.
The disbursement comes after the €1.85bln was disbursed to Romania on December 2, as pre-financing under the €14bln grant instrument of the Resilience Facility.
„According to the Council Implementing Decision of November 3, 2021, the loan amounts will be made available in 10 instalments, based on the fulfilment by the Romanian side of the milestones and targets in the reforms and investments associated with the loan,” stated the MIPE.
MIPE will send in the first payment request to the European Commission, based on the fulfilment of 24 targets and milestones related to the first quarter of 2022 (out of a total of 507 assumed throughout the plan).