October 08, 2024 11:34 GMT
MNI BRIEF: Gentiloni Sees RRF Payments Near 50% At End 24
Economy Commissioner Paolo Gentiloni talks on RRF disbursion..
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MNI (BRUSSELS) - The EU Commission will have disbursed almost 50% of the total EU Recovery and Ressilience Facility envelope by the end of this year, Economy Commissioner Paolo Gentiloni said Tuesday.
The commissioner said that close to 41% of the RRF -- EUR267bn -- had been disbursed to EU states so far and noted 16 payments worth EUR45bn are currently in the pipeline.
The EUR648bn RRF is the largest component of the NGEU programme and has been operational since 2021. The EU must conclude NGEU disbursements in 2026, meaning that the Commission and EU states will need to significantly accelerate their reforms and investments under the plan. "Implementation will remain a challenge in the next couple of years," Gentiloni conceded.
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