The deadlines and conditions set by the EU for the Recovery fund

by time news

Time.news – The goal of is to distribute the first tranche of the funds of the , including those of by the beginning of the summer but times are getting longer and the first unforeseen events arise, including the suspension of the ratification of decisions on own resources in Germany and the government crisis, again on ratification, in Poland. So far 23 states have submitted drafts of their plans but no one presented the official version. And sixteen countries have already ratified the decision on own resources.

Italy completed its ratification on March 5, and today the Senate gave the green light to the plan but it will need more time for some changes before the formal presentation in Brussels. The timing dictated by the Commission and the Council envisaged submitting all the plans by the end of April and – at the same time – ratifying the decisions on own resources to allow the Commission to go into the markets and get into debt. Once the Twenty-Seven have delivered their national plans, the commission will have two months for evaluation and the Council another month for approval.

The Commission has already clarified the conditions for approving the plans. Meanwhile “to benefit from the support of the instrument, reforms and investments must be implemented by 2026“, writes the Commission.” The plans must effectively address the challenges identified in the European semester, in particular the country-specific recommendations adopted by the Council (for Italy these are public accounts, labor, justice reform and public administration).

The plans must also include measures to address the challenges and reap the benefits of green and digital transitions. Each plan must contribute to the four dimensions outlined in the 2021 Annual Sustainable Growth Strategy: environmental sustainability; productivity; equity and macroeconomic stability“The plans are seen as” opportunities to create European flagship areas for investment and reform with tangible benefits for the economy and citizens across the EU. “They must therefore address issues that require significant investment to create jobs and growth and which are necessary for green and digital transitions.

The Commission strongly encourages Member States to present investment and reform plans in the following areas: clean and renewable technologies, energy efficiency of buildings, sustainable transport and charging stations, increased connectivity, digitization of public administration, data cloud and digital education. There are two macro objectives that will be taken into consideration by the Commission: at least 37% of climate-related spending and at least 20% to foster the digital transition.

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