12° Nicosia,
24 May, 2024
Home  /  News

EC allocates recovery funds to six member states

Financial support flowing to Germany, Greece, Italy, Portugal, Slovakia, and Slovenia for implementation of resilience plans


The European Commission disbursed payments to six Member States on Thursday, marking a milestone in the implementation of the Recovery and Resilience Facility (RRF). Germany received its initial payment of €4 billion under the RRF, part of its comprehensive plan financed by €28 billion in grants. Meanwhile, Greece received its third payment of €3.64 billion, consisting of non-repayable financial support and loans, contributing to its overall €35.95 billion recovery and resilience plan.

Italy also received its fourth payment of €16.5 billion, combining non-repayable financial support and loans, supporting its extensive €194.4 billion recovery and resilience plan. Portugal received a combined third and fourth payment of €2.46 billion, with the Commission recognizing progress while acknowledging work remains in areas such as health sector reforms. Slovakia and Slovenia also received payments, with Slovakia securing €662 million in grants and Slovenia receiving its second payment of €225.91 million in non-repayable financial support and €310.09 million in repayable support under the RRF. These disbursements are performance-based, contingent on the effective implementation of reforms and investments outlined in each country's recovery and resilience plan.

[Information sourced from CNA]

News: Latest Articles