Finland, Ireland and Sweden submit official reform plans

All three countries have organised their recovery projects relying on grants

Photo: EU Commission's Berlaymont Building in Brussels.

The Commission received last days the official recovery and resilience plans from Finland, Ireland and Sweden that set out the reforms and investment projects countries intend to implement with the support of the Recovery and Resilience Facility (RRF).

All three countries have organised their recovery schemes based on grants and show no appetite for cheap loans.

Finland has requested €2.1bn in grants under the RRF and its plan until 2026 relies on green transition, digitalisation and data economy, employment and skills, and social and health services, sheltering all seven EU flagship areas.

The plan scheme is made up of reforms and investments to accelerate the digital transformation, research and investment in the green transition, and measures to promote employment and skills, and improving access to health care and social services.

Under the facility, Sweden has requested a total of €3.2bn in grants. The Swedish plan is structured around five components and green recovery is one of them. It also focus on education and transition into work, meeting demographic challenges, expansion of broadband and digitalisation of public administration and investment for growth and housing.

Projects in the plan cover the entire lifetime of the RRF until 2026, with a strong concentration of projects in the first three years of implementation. It proposes initiatives in six of the seven European flagship areas.

Ireland asked a total of €1bn in grants for its reforms. The Irish plan is structured around advancing the green transition, accelerating and expanding digital reforms and transformation, and social and economic recovery and job creation.

Projects in the plan cover the entire lifetime of the RRF until 2026 and are dedicated to all seven European flagship areas.

The Commission will assess the plans within the next two months based on the eleven criteria set out in the Regulation and translate their contents into legally binding acts.

The EU executive will also check whether the plans dedicate at least 37% of expenditure to investments and reforms that support climate objectives, and 20% to the digital transition.    

The Council will have four weeks to adopt the Commission proposal and its approval would pave the way for the disbursement of a 13% pre-financing.

The RRF is the key tool of NextGenerationEU. It will provide up to €672.5bn to support investments and reforms, of which €312.5bn in grants and €360bn in loans.

The RRF will play a crucial role in helping Europe emerge stronger from the crisis, and securing the green and digital transitions.

The EC Press Office recalled that the Commission has received 21 recovery and resilience plans and will continue to engage intensively with the remaining Member States to help them deliver high quality plans.

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