A Romanian MEP will negotiate how the 234.3 billion euros of the European Competitiveness Fund will be spent
The European Parliament appointed Romanian MEP Dan Nica as rapporteur for the European Competitiveness Fund (ECF), the most ambitious financial instrument of the European Union, intended to strengthen economic, industrial, digital and technological competitiveness. The total value of the fund amounts to 234.3 billion euros.
MEP Dan Nica PHOTO: FB
As rapporteur, Dan Nica will represent the European Parliament in the negotiations with the Council of the European Union, to establish the concrete way in which the European money will be spent.
“This fund is the key instrument of the European Union for strengthening economic, industrial, digital and technological competitiveness. It unifies in one strategic architecture 14 existing European programs (research-innovation, financing for the modernization of industry, SMEs, digitization, defense, etc.) and will support investments along the entire value chain – from research and innovation to industrialization, infrastructure and skills”, stated MEP Dan Nica.
The European Competitiveness Fund brings Romania numerous opportunities, including financing the modernization of large energy-consuming industries, investments in energy infrastructure and network interconnection, essential for reducing costs and increasing energy security, as well as flexible financial instruments for SMEs, start-ups and emerging industries, thus supporting the reindustrialization of Romania and Europe.
In addition, the Fund enables expanded participation in European defense and security projects and support for innovation and applied research.
Major opportunities for Romania
The fund will be structured on four main axes: clean transition and industrial decarbonization, with an allocation of 26.2 billion euros; health, biotechnology, agriculture and bioeconomy, with 20.4 billion euros; digital and artificial intelligence, with 51.5 billion euros; and resilience, security, defense and space, with €125.2 billion.
The fund will support the objectives of the Clean Industrial Deal, integrate the Industrial Decarbonisation Bank and finance strategic infrastructure, innovation and skills projects for a safer, more competitive and more autonomous Europe.
“In the negotiations that I will have with the Council of the European Union, the final form of the regulation will be established. The result will be subject to a vote in the plenary of the European Parliament, marking a decisive step for the economic and strategic future of the Union. The European Competitiveness Fund is not just a budgetary exercise – it is a political choice for a Europe capable of defending its economy, industry and jobs”, Dan Nica transmitted.
