NRRP, preliminary favourable EU opinion on fifth installment payment to Italy

Brussels – Italy, good fifth. The European Commission gives the preliminary green light to the new €11 billion payment request under the National Recovery Plan (NRRP). The EU executive’s assessment is positive, paving the way for disbursement to the government. The new tranche of EU resources, requested by the country before Christmas, includes €3.2 billion in guarantees and €7.9 billion in loans. The only catch: procurement measures and policies. This is the only measure that Brussels cannot approve and for which an amendment to the national text will be necessary.

The disputed measure is worth €110 million, a small amount compared to the €11 billion. The Commission has forwarded the positive opinion to the economic and financial committee, which has four weeks to endorse or challenge the opinion of the College of Commissioners. A positive opinion also from the ECOFIN Council’s technical body would allow the funds to be disbursed, which could arrive by the first half of August at the latest.

I am very pleased to announce that the European Commission today approved the payment of the fifth installment of the PNRR.
Good news for Italy and all citizens. pic.twitter.com/x7wkJubjXr

– Giorgia Meloni (@GiorgiaMeloni) July 2, 2024

The President of the Council, Giorgia Meloni, is satisfied and, caught up in the euphoria, offers a version of the facts that does not correspond to reality. “I am very happy to announce that the European Commission today approved the payment of the fifth instalment of the NRRP,” the premier announces. A narrative that does not coincide with the reality of the decision-making process. The Commission gave a preliminary positive opinion, which is necessary to cut a check that has not yet been authorized. Therefore, Meloni tells the Italians something that will probably come but is not there yet. In any case, there is no doubt that today’s “is good news for Italy,” which is called to use an important amount of European resources soon and well.