EU Economy and Finance Ministers have approved Italy's National Recovery and Resilience Plan (NRP), giving the official green light for the use of European funds, totalling €191.5 billion.
Italy will be able to have immediate access to the pre-financing of about €24.89 billion, equal to 13% of the total amount of the Plan.
In its analysis of the contents of Italy's Plan, the Council underlined its completeness, innovativeness and strong ambition for the country's transformation, as well as the compliance with regulatory requirements and cross-cutting priorities (digitalization and innovation, ecological transition and social inclusion).
We now move on to the implementation phase to which all national, central and territorial Administrations are called. They are committed to achieving the goals and objectives associated with the reforms and investments included in the Plan, to be completed by August 31, 2026.
“This green light comes after that of the European Commission, which was communicated to us by President von der Leyen during her visit to Rome a few weeks ago. Italy will soon receive around 25 billion euros, 13% of the total resources allocated to our country. This decision should be a source of pride for Italy", said Prime Minister Mario Draghi during the Council of Ministers meeting.
“The Plan is the result of the close collaboration that there has been within the Government and between the ministries. It was approved by a large majority in Parliament, and after the full involvement of territorial authorities and social partners. But it must also be a chance to spend well the money that will come to us, and to approve quickly the reforms that we have agreed with the European Commission”, said Draghi. “These are the requirements to receive all the 191.5 billion euros, in loans and subsidies, that have been allocated to us. And to continue to show us as a credible and reliable country”, he concluded.