The EU Council today approved the Commission’s positive assessment of Italy’s amended recovery and resilience plan.
According to the analysis of the Commission, the targeted modifications put forward by Italy do not affect the relevance, effectiveness, efficiency and coherence of its recovery and resilience plans.
On 10 October 2024, Italy submitted targeted amendments to its recovery and resilience plan. The plan is worth € 194,4 billion in grants and loans.
Italy’s initial plan was first greenlighted by the Council on 13 July 2021 and has since been amended three times, in particular to add a new Repower Chapter in 2023.
Background
The RRF is the EU’s large-scale financial support programme in response to the challenges the COVID-19 pandemic has posed to the European economy. It is the centrepiece of NextGenerationEU, a temporary recovery instrument that allows the Commission to raise funds to help repair the immediate economic and social damage caused by the pandemic.
To benefit from the facility, member states must submit recovery and resilience plans (RRPs) to the Commission, setting out the reforms and investments they intend to implement by the end of 2026.
So far, €648 billion have been committed to this end. To date, all RRPs have been approved, 70 payment requests have been received and €269 billion have been disbursed.