Italy asks the EU for the fourth installment of the Recovery Fund

The Italian government requested this Friday (22) the fourth tranche of the European Union (EU) recovery fund for the post-pandemic period, announced the Italian Minister for European Relations, Raffaele Fitto.

The amount is estimated at 16 billion euros, which is part of the over 190 billion to which the country is entitled to finance the National Recovery and Resilience Plan (PNRR), and will have to be paid in the coming months, at the end of an evaluation .

The main objectives of the fund, financed through unprecedented debt issuance by the European Commission, are to stimulate member states’ economies in the post-pandemic period and make them greener.

“The payment request presented by the Government is the result of fruitful work carried out in full harmony with the European Commission, which on 28 July 2023 approved the proposal to modify 10 objectives”, said Fitto.

According to the Italian minister, the revision of the objectives was definitively approved by the EU General Affairs Council on 19 September.

The fourth payment covers at least 21 items covering different reforms in the areas of social inclusion, public procurement, as well as follow-up measures to continue the implementation of already adopted rules in the field of justice and public law.

Furthermore, they include digitalisation, especially the transition of local government data to the cloud, the development of the space industry, green hydrogen, transport, research, education and social policies.

On the 11th the EU Economic and Financial Committee had already approved the sending of the third tranche of the fund, estimated at 18.5 billion euros. However, according to sources following the case, some bureaucratic steps are still missing to provide the payment. .

Source: Terra

Rose

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