Sendwave, Wise restrict Kenya transfers amid heightened AML scrutiny
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Romania risks losing more than €2.5bn of funding under the National Recovery and Resilience Plan (PNRR) if key reforms and major investments are not completed, according to the latest PNRR Monitor compiled by an independent platform supported by Save Romania Union (USR). The PNRR absorption rate is a key figure followed by the rating agencies due to its impact on the budget balance.
The most severe scenario assumes the failure of at least two key reforms alongside delays in major investments. Romania has €7.57bn theoretically remaining to collect from the PNRR (€4.2bn in grants and €3.3bn in loans), which provides a total of about €20bn, including €13.5bn in grants.
The outcome will depend mainly on the speed at which parliament adopts outstanding reforms and the rate at which completed projects are formally received and documented.
Under the optimistic scenario, Romania completes the required reforms and investments quickly, limiting losses to tens of millions of euros, mainly from smaller local projects that fail to meet deadlines.
Under the moderate scenario, failure to implement one major reform, such as the Wage Law for the budgetary sector, combined with delays to infrastructure projects could result in losses of €1bn-€2bn, according to the monitor.
The final stage of the PNRR includes major transport projects. These include "Quick Wins" works covering 1,527.85km of railway infrastructure, as well as modernisation of the Arad-Timişoara-Caransebeş and Cluj-Episcopia Bihor routes, with a combined value of €718mn.
Road projects include 95.9km of the A7 motorway between Focşani and Bacău and between Bacău and Paşcani. The rolling-stock programme includes 36 modernised electric locomotives and 64 rehabilitated wagons.
Healthcare projects include the Agrippa Ionescu Hospital in Baloteşti, Bistriţa County Emergency Hospital and Cluj County Emergency Clinical Hospital. Two polytrauma pavilions in Craiova and Sibiu, 200 type C ambulances, 25 neonatal intensive care units and 65 critical-care beds are also included.
Other targets include 110 nurseries, 950 MW of new wind and solar capacity, 288km of water networks, 975km of sewage networks, 18,000 hectares of new forests and 130,000 square metres of urban forests.
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