Brussels (Brussels Morning Newspaper) – European Commission disbursed €26.8 billion in loans and grants to five EU countries under the Recovery and Resilience Facility, reaching over €300 billion in total.
The European Commission on 23 Dec 2024 disbursed €26.8 billion in loans and grants to Czechia, Germany, Italy, Romania, and Portugal. The payments were made under the Recovery and Resilience Facility (RRF).
How much did the EU disburse to five countries?
According to the EU Commission, the total amount paid under the RRF has now arrived at over €300 billion. This noteworthy milestone echoes the scale of the transformative reforms and investments being conducted across European Union Member States, revving the green and digital transitions while supporting the European Union’s overall resilience.
As reported by the commission, Czechia received its third payment of €1.7 billion, Germany acquired its second payment of €13.5 billion, Italy accepted its sixth payment of €8.7 billion,
Portugal welcomed its fifth payment of 2.9 billion, and Romania acquired €37.05 million as part of its second payment request.
EU Commission expressed that these payments demonstrate the EU’s continued commitment to supporting Member States in enforcing their recovery and resilience plans, promoting sustainable growth, supporting economic resilience, and increasing the green and digital shifts across the European Union.
What role does the Recovery and Resilience Facility play?
The Recovery and Resilience Facility (RRF) came into effect in February 2021 to reduce the economic and social consequences of the Covid-19 pandemic. It is the foundation of NextGenerationEU, an exceptional EU recovery instrument to assist in repairing the immediate economic and social deterioration of the coronavirus pandemic and will pay up to €650 billion in grants and loans to European Union Member nations.
The RRF assists in mitigating the pandemic’s economic and social consequences, makes sure Member nations are more resilient, more bearable, and better ready for the challenges and prospects of the green and digital transitions; reach the EU target of climate objectivity by 2050, set Europe on a course of digital transition, make jobs and stimulate growth.
