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12° Nicosia,
24 May, 2024
 
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EC allocates recovery funds to six member states

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

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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]

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