Sunday, December 05, 2021

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EC transfers to Italy advance payment of recovery plan

EC transfers to Italy advance payment of recovery plan

Brussels, Aug 13 (Prensa Latina) The European Commission (EC) today transferred 24.9 billion euros to Italy as an advance payment of its economic recovery plan, with a view to advancing in the green and digital transition.
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Through this program, Rome will receive a total of 191.5 billion euros to accelerate recovery.

In this way, Italy obtains the 13 percent pre-financing stipulated in the €800 billion recovery and resilience fund regulation.

This is the fifth Member State to receive the corresponding advance payment from Brussels, after Portugal (2.2 billion), Belgium (770 million), Luxembourg (12.1 million) and Greece (4 billion).

Such money furthermore serves for a greener and more sustainable mobility system, an increase in renewable energy, the digitalization of companies, the deployment of 5G communication, a more efficient public administration and a competitive business environment.

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