The Government approved the draft law which regulates Romania’s participation providing exceptional macro-financial assistance to Ukraine by the European Union, our country’s contribution to the total amount guaranteed being 60,453,864 EUR, according to Agerpres.
According to a press release of the Executive, the draft law is based on Decision (EU) 2022/1628 of the European Parliament and of the Council of 20 September 2022 providing exceptional macro-financial assistance to Ukraine, reinforcing the common provisioning fund by guarantees by Member States and by specific provisioning for some financial liabilities related to Ukraine guaranteed under Decision No 466/2014/EU, and amending Decision (EU) 2022/1201.
The normative act regulates the legal framework to allow Romania to participate in the guarantees provided by the member states for the exceptional macro-financial assistance to Ukraine by the EU, as well as the authorization of the Government, through the Ministry of Finance, for the signing of the Guarantee Agreement between Romania and the European Commission.
Moreover, this draft law establishes a derogation from the provisions of art. 4 of Government’s Emergency ordinance (OUG) No. 64/2007 regarding public debt, approved with amendments and additions by Law No. 109/2008.
Furthermore, the normative act includes elements related to the entry into force of the guarantee agreement and its implementation, the assimilation of Romania’s obligations in this agreement with those of the governmental public debt, aspects related to the sources of coverage of the assumed obligations, in case of the execution risk of the guarantee, as well as the destination of the recovered amounts.
The guarantee agreement will be signed by the Romanian side after Parliament passes the law, the Government states.