Only five EU countries submitted so far their recovery plans

The Commission expects in the next weeks to receive all proposals

Photo: EU Commission's Berlaymont Building in Brussels.

By noon on Friday, the Commission has received a total of five recovery and resilience plans. Only Portugal, Germany, Greece, France and Slovakia submitted so far their ideas for reforms with specific projects that will allow them to use their share of grants and loans from the huge pot of the  NextGenerationEU money.

As soon as the instrument was approved, it was announced that the national plans should be submitted by 30 April as to be evaluated by the Commission.

Marta Wieczorek, Spokesperson for economic and financial affairs in the EC told media that 30 April was an orientation date and the Commission expects a number of Member States to submit their plans on Friday afternoon and in the next weeks.

She specified that the plans are prepared in intensive dialogue between the Commission and the national authorities over the past months.

The plans should set out the reforms and public investment projects that each country intends to implement with the support of the Recovery and Resilience Facility (RRF).

The RRF is the key instrument at the heart of NextGenerationEU, the EU's plan for emerging stronger from the COVID-19 pandemic. It will provide up to €672.5bn to support investments and reforms (in 2018 prices).

This breaks down into grants worth a total of €312.5bn and €360bn in loans.

The grant allocation for all Member States under the RRF in current prices is available here. The RRF will play a crucial role in helping Europe emerge stronger from the crisis, and securing the green and digital transitions.

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

This assessment will particularly include a review of whether the plan contributes to effectively addressing all or a significant subset of challenges identified in the relevant country-specific recommendations issued in the context of the European Semester.

The EU executive will also assess whether the plan dedicates at least 37% of expenditure to investments and reforms that support climate objectives, and 20% to the digital transition. Based on a proposal by the Commission, the Council will have as a rule four weeks to adopt the Commission proposal.

In a statement on the finalisation of national recovery plans under NextGenerationEU, issued during the week, EC President Ursula von der Leyen stated that as vaccination is gathering speed across Europe, “it is now essential that our economy, which was badly hit by the pandemic, also recovers rapidly”.

We have just entered a crucial phase for our recovery and for the future of our Union, she said recalling that €750bn from the NextGenerationEU is necessary to be invested rapidly “to build our future Union”. “This is the opportunity of the century for Europe. A truly historic moment,” von der Leyen also stressed.

 

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