Yesterday’s payment of €21 billion (€10 billion in grants and €11 billion in loans, net of pre-financing) was made possible by Italy’s fulfillment of the 45 milestones and targets linked to the second instalment. They cover key reforms in the areas of public employment, public procurement, teaching, tax administration and healthcare, as well as investments covering key policy areas such as ultra-broadband and 5G networks, research and innovation, tourism and culture, production and consumption of clean hydrogen, urban regeneration and digitalisation of schools. As for all Member States, payments under the Recovery and Resilience Facility (RRF), the key instrument at the heart of NextGenerationEU, are performance-based and contingent on Italy implementing the investments and reforms outlined in its Recovery and Resilience Plan. On 28 June 2022, Italy submitted to the Commission a payment request based on the achievement of the 45 milestones and targets set out in the Council Implementing Decision for the second instalment. On 27 September 2022, the Commission endorsed a positive preliminary assessment of Italy’s payment request. The favorable opinion of the Economic and Financial Committee on the payment request paved the way for the Commission to adopt a final decision on the disbursement of the funds. The overall Recovery and Resilience Plan of Italy will be financed by €191.6 billion (€68.9 billion in grants and €122.6 billion in loans). To date, the Commission has disbursed €66.9 billion to Italy under the Recovery and Resilience Facility. The amounts of payments made to Member States are published on the Recovery and Resilience Scoreboard, which shows the progress made in implementing the RRF as a whole and individual recovery and resilience plans.
EU Institutions News
Release of frozen EU funds to Hungary: MEPs to debate next steps with Commission
Jan 23, 24