(Bloomberg) -- Romania's resilience and recovery fund was approved by the European Commission and the country will probably get the first disbursement from the allotted 29 billion euros ($34 billion) by early December.
The first payment of 3.6 billion euros will be transfered after the plan is endorsed by the European Council.
“We will stand with you in the years to come to ensure that the ambitious investments and reforms set out in the plan are fully implemented,” EU Commission President Ursula von der Leyen said in a statement on Monday.
Prime Minister Florin Citu said the funds will be used to help Romania transition toward a greener and more digitalized economy, as well as to revamp healthcare and social services.
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