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MNI BRIEF: Commission Approves EUR18.5Bln For Italy Under NGEU

(MNI) Brussels

The European Commission said on Friday it had officially endorsed Italy’s third payment request under the NextGenerationEU programme and approved modifications to the country’s Recovery Plan linked to its fourth payment request.

The EUR18.5 billion third payment and targeted revisions to the fourth payment can now proceed once European Union finance ministry officials have given approval within the coming weeks.

Under an informal deal reached between the Commission and Italy on July 13 and reported by MNI, EUR500 million was shifted from Italy’s third payment request to its fourth after an agreement over investments in student housing. (See MNI: Italy Pushes Back Date For Revamped Recovery Plan-Sources)

Italian Prime Minister Giorgia Meloni welcomed the Commission’s decision, which will allow Italy to receive the whole EUR35 billion originally allotted to it from NGEU for 2023, the Italian government said in a statement.

MNI Brussels Bureau |
MNI Brussels Bureau |

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