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MNI: Italy Faces Tough Deadlines For NextGenEU Cash-Officials

(MNI) ROME

Italy achieved less than it had hoped in talks on overhauling its National Recovery Plan, officials say.

The Italian government anticipates a tough challenge to meet deadlines to qualify for future tranches of its EUR200 billion in NextGenerationEU funding, after gaining only partial concessions from the European Commission in talks on overhauling the National Recovery Plan which sets out spending under the programme, officials told MNI.

While Brussels agreed to increase some NextGenEU funding after months of talks this only partially offset inflation since its inception, and Italy failed to gain permission to extend some projects beyond the programme’s 2026, deadline, two sources from the Italian government told MNI.

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The Italian government anticipates a tough challenge to meet deadlines to qualify for future tranches of its EUR200 billion in NextGenerationEU funding, after gaining only partial concessions from the European Commission in talks on overhauling the National Recovery Plan which sets out spending under the programme, officials told MNI.

While Brussels agreed to increase some NextGenEU funding after months of talks this only partially offset inflation since its inception, and Italy failed to gain permission to extend some projects beyond the programme’s 2026, deadline, two sources from the Italian government told MNI.

Keep reading...Show less