| Author (Corporate) | Council of the European Union |
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| Publisher | General Secretariat of the Council |
| Series Details | 10160/21 |
| Publication Date | 06/07/2021 |
| Content Type | Blog & Commentary, News, Policy-making |
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Summary: Council Implementing Decision - adopted by the Council of the European Union on 6 July 2021 - concerning the endorsement of an assessment to Italy's National Recovery and Resilience Plan (NRRP). Further information: National Recovery and Resilience Plans are prepared by the Member States of the European Union (EU) and comprise a package of reforms and investment initiatives to be implemented by 2026 and supported by the Recovery and Resilience Facility (RRF). These plans are assessed by the European Commission and approved by the Council of the European Union. The assessment is based on criteria set out in Regulation (EU) 2021/241 - also known as the RRF Regulation. The plan was submitted by national authorities on 30 April 2021. A positive assessment of the Italian NRRP was adopted by the Commission on 22 June. It recommends that the Council endorses the disbursement of €68.9 billion in grants and €122.6 billion in loans under the RRF over the period 2021-2026. The Commission's analysis considered, in particular, whether the investments and reforms contained in Italy's plan support the green and digital transitions; contribute to effectively addressing challenges identified in the European Semester; and strengthen its growth potential, job creation and economic and social resilience. The proposed Decision was formally endorsed by the Council of the European Union at a meeting on 13 July. The first €24.9 billion - equivalent to 13% of the grant and loan component of the country's financial allocation - was disbursed by the Commission on 13 August. |
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| Source Link | Link to Main Source https://eur-lex.europa.eu/legal-content/EN/ALL/?uri=CONSIL:ST_10160_2021_INIT |
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| Subject Categories | Economic and Financial Affairs |
| Subject Tags | Economic Governance | Situation |
| Countries / Regions | Italy |
| International Organisations | European Union [EU] |
