Preliminary assessment of the first payment request of Romania

economic documentation phase to the tendering procedures, the supervision of the effective construction and the reception of the construction phase. Article 4 of the Ordinance provides that C.N.A.I.R shall focus on the management and maintenance of the existing road network.

The analysis of Government Emergency Ordinance no. 55/2016 demonstrates that the competences attributed to C.N.I.R and C.N.A.I.R are in line with the description of milestone 78 and its corresponding measure.

The preambles of Government Emergency Ordinance no. 55/2016 explain that the delays in the implementation of road transport infrastructure projects are due to C.N.A.I.R allocating time to both investment projects and maintenance. It can therefore be concluded that C.N.I.R’s focus on efficient management and prioritisation of new road investments allows C.N.A.I.R to allocate more time on the management and maintenance of the existing road network. This is aligned with the expectation presented in the description of the reform associated with milestone 78, that the creation of C.N.I.R shall allow C.N.A.I.R to better manage and maintain the road network.

2. This reform shall ensure a balanced representation of women in all reform processes and in the organisational structures specific to its implementation. It shall also aim to improve the representation of women in decision-making positions of companies undergoing this reform.

Milestone 78 establishes the legislation and the regulatory package for C.N.A.I.R and C.N.I.R. To verify that the organisational structures specific to the implementation of the reorganisation of C.N.A.I.R and the establishment of C.N.I.R ensure a balanced representation of women, the panels selecting the members of the boards of directors of C.N.I.R and C.N.A.I.R shall themselves be gender balanced. Ministerial Order no. 1345 issued on 28 July 2022 on the constitution of the selection panel for the selection of candidates for managements positions at C.N.I.R and C.N.A.I.R lists the 7 members of the selection panel, 5 of which are women. Commission Preliminary Assessment: Satisfactorily fulfilled

Number: 247       Related Measure: Financial instruments for the private sector - Portfolio guarantee
                  for resilience
Name of the Milestone: Signature of the contribution agreement between the European
Commission and the Romanian Government
Qualitative Indicator: Agreement signed                                            Time: Q4 2021
Context:

The objective of this sub-investment is to address financial hurdles faced by Romanian enterprises in accessing finance. In particular, the sub-investment shall target the liquidity/solvency challenges of Romanian enterprises, which arise from the significant and temporary reduction of their revenues, due to the COVID-19 crisis. The investment shall take the form of a portfolio guarantee, to be implemented as a contribution to InvestEU by the European Investment Fund (“EIF”).

The signature of the Contribution Agreement is the steppingstone for the implementation of the investment C9.I2a. The Contribution Agreement allows Romania to contribute the dedicated funds to the InvestEU Programme, managed at EU level, which are then provided as a guarantee to attract private investments in the country via financial intermediaries (also known as “Member State Compartment”). Following the signature of the Contribution Agreement, and subsequently the guarantee agreement (not covered by this milestone), 50% of the total amount of resources shall be

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