The European Commission has adopted a Partnership Agreement with Romania paving the way for investing EUR 23 B in total Cohesion Policy funding in the country over 2014-2020.

According to a statement issued by the EC on Wednesday, the agreement is setting down the strategy for the optimal use of European Structural and Investment Funds for growth and jobs in Romania, which joined the bloc in 2007 together with Bulgaria.

Romania also receives EUR 8 B for rural development and EUR 168 B for fisheries and the maritime sector until 2020, the European Commission said in a press release.

“The EU investments will help tackle unemployment and boost competitiveness and economic growth through support to innovation, training and education in cities, towns and rural areas,” the EC said.

“They will also promote entrepreneurship, fight social exclusion and help to develop an environmentally friendly and a resource-efficient economy.”

The European Commissioner for Regional Policy, Johannes Hahn, commented: "Today we have adopted a vital, strategic investment plan that sets Romania on the path to jobs and growth for the next 10 years.

And Commissioner for Agriculture and Rural Development, Dacian Ciolos, added:''With the adoption of the Partnership Agreement we have achieved an important step in creating the strategic framework for a successful implementation of all European Structural Investment Funds in Romania.”

Bulgaria's Partnership Agreement with the European Commission is expected to be signed by the end of this week, most probably on Thursday, the Bulgarian National Radio reported earlier this week.

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