EU €24.9 billion in pre-financing for Italy

The European Commission has disbursed €24.9 billion to Italy in pre-financing, equivalent to 13 per cent of the country’s grant and loan allocation under the Recovery and Resilience Facility (RRF).

Italy is one of the first countries receiving a pre-financing payment under the RRF. The pre-financing will help to kick-start the implementation of the crucial investment and reform measures outlined in Italy’s recovery and resilience plan.

The Commission will authorise further disbursements based on the implementation of the investments and reforms outlined in Italy’s recovery and resilience plan. The country is set to receive €191.5 billion in total over the lifetime of its plan, €68.9 billion in grants and €122.6 billion in loans.

The disbursement follows the recent successful implementation of the first borrowing operations under NextGenerationEU. By the end of the year, the Commission intends to raise up to a total of €80 billion in long-term funding, to be complemented by short-term EU-Bills, to fund the first planned disbursements to Member States under NextGenerationEU.

President Ursula von der Leyen said: “Today’s first disbursement of funds under NextGenerationEU in Italy launches a lasting recovery in the country. The EU stood in full solidarity with you throughout the crisis. We will stay by your side as brighter days are ahead.

“Your recovery plan, Italia Domani, shows the level of ambition that is needed to make the country an engine for growth for the whole of Europe. Because a strong Europe needs a strong Italy,” she added on August 13.

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