May 14, 2024 14:37 GMT
MNI BRIEF: EC Dombrovskis Eyes Changes To Speed NGEU Payouts
(MNI)Brussels
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The European Commission will soon propose "a few practical improvements" to speed disbursements of NGEU funds to EU states, EC Vice President Valdis Dombrovskis said Tuesday.
Dombrovskis said that the improvements would cut the "administrative burdens" of implementing the EUR800bn post-pandemic recovery instrument, for which NGEU has been frequently criticised and blamed as a key factor in the sluggish absorption of funds in states like Italy and Spain.
The commissioner said that the programme was expected to disburse over EUR100bn in 2024 and more than EUR300bn since its start in 2021. Disbursements under NGEU will come to an end in 2026, although there has been speculation that a 2-3 year extension is being informally discussed.
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