483.8 million euros were approved for Romania by the European Commission, under the REACT-EU mechanism.
From this amount, projects will be financed within the Large Infrastructure Operational Program (LIOP). 283, 8 million are, in the context of COVID, for the endowment of hospitals, social centers and schools. 200 million euros will be used to increase energy efficiency and the use of renewable energy sources. Thus, Romania receives money for health and energy.
Through the REACT-EU mechanism, it will receive also other funding approvals, totaling 1.32 billion euros for 2021:
- Competitiveness Operational Program – 550 million euros
- Human Capital Operational Program – 234 million euros
- Disadvantaged Aid Program – 56 million euros
The REACT – EU Mechanism is part of the European Union’s NextGenerationEU Recovery Plan alongside the Recovery and Resilience Mechanism. With an allocation of 806.9 billion euros*, this temporary recovery tool is intended to help repair the immediate economic and social damage caused by the coronavirus pandemic.
REACT-EU has an allocation of 50.6 billion euros*, which can be spent by the end of 2023. This amount supplements the existing cohesion policy programs for 2021 and 2022. The money will be used to reduce the gap between the immediate response, in the context of the COVID-19 pandemic, and long-term recovery.
The funds allocated to Romania are separated from the 29.2 billion euros that can be invested through the National Recovery and Resilience Plan.
REACT-EU encourages crisis repair and the integration of green and digital transitions into the recovery strategy to increase the resilience of the economy. That is about investing in energy efficiency, urban greening and the digitization of schools and businesses. A significant part of the total amount foreseen will be allocated to climate objectives.
Thus, after the COVID-19 pandemic, Europe should become greener, more digital, more resilient and better prepared to face current and future challenges.
* in current prices.