MEP Dragoş Pîslaru (Renew Europe) announced that the 672.5 billion euro Recovery and Resilience Mechanism to combat the effects of the COVID-19 pandemic and the economic recovery of the Union has been adopted in the ECON-BUDG Commissions.

“It was a day of emotions, but it was worth the wait! The ECON-BUDG commissions have just given us the vote of confidence with an overwhelming majority on the Recovery and Resilience Mechanism! The mandate of the European Parliament was officially adopted with 84 votes out of 99, we are going to negotiations with the Council and the Commission,” announced Pîslaru, according to financialintelligence.ro.

The EU’s most important financial instrument provides the Member States with 672.5 billion euro to combat the effects of the COVID-19 pandemic and boost the Union’s economy. Romania will benefit from 30 billion euro to carry out reforms and investments in key sectors – economy and social, he also wrote.

“Renew Europe’s contribution to setting the objectives has been significant, Parliament has adopted our proposal to have 6 main pillars to be found in the national plans of the Member States.”

The European Parliament proposes:

• At least 269 billion euro allocated to climate and biodiversity measures
• Minimum of 134.5 billion euro allocated to digital measures
• Minimum 47 billion euro allocated to the next generation – Next Generation (measures for young people and children)
• Compliance with the “do no significant harm” principle and a new methodology for monitoring actions to combat climate change
• Increased democratic legitimacy of the regulation – a clearer role for the European Parliament
• Sanctions for Member States that do not respect the rule of law.