Brussels – Italy cashes in the fourth installment of €16.5 billion of the National Recovery and Resilience Plan (NRRP). After the first go-ahead from the European Commission on Nov. 28, Italy received the disbursement from Brussels. “Great satisfaction” for European Affairs Minister Raffaele Fitto, who had the glory and burden of securing all the 194.4 billion euros.
After the evaluation of the Economic and Financial Committee (EFC), the technical body that, taking into account the preliminary green light, conducted the in-depth assessment of the Italian request, the European Commission proceeded to disburse 16.5 billion euros in grants from the Recovery Fund, the European that finances the implementation of national recovery plans.
Rome, therefore, has successfully implemented the 21 goals and seven targets related to this payment request, which include reforms to improve the efficiency of civil and criminal justice, modernize the public administration, reduce the delay in payments, and improve care for the elderly, as well as investments in social inclusion, energy efficiency, and hydrogen infrastructure. The Ministry of Environment and Energy Security (MASE) “has already achieved even those for the fifth installment of 10.5 billion, accelerating on the waste and circular economy to overcome even onerous infringement procedures with the EU,” said MASE Deputy Minister Vannia Gava.
Italy submitted the payment request on Sept. 22, and “President Giorgia Meloni and the government committed to receive the funds by the end of 2023, and we accomplished this. This is the result of a great collective effort,” Fitto tweeted. Today (Dec. 28), the Commission also disbursed payments to six other member states: Germany, Greece, Italy, Portugal, Slovakia, and Slovenia. The largest is for Rome. On the other hand, at least from an economic point of view, the Italian NRRP is the most ambitious out of the 27 Member States: 194.4 billion euros overall, of which 71.8 billion euros in the form of grants and 122.6 billion euros in the form of loans.
English version by the Translation Service of Withub
