Council Implementing Decision on the approval of the assessment of the recovery and resilience plan for Italy

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Series Details 10160/21
Publication Date 06/07/2021
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Summary:

Council Implementing Decision - adopted by the Council of the European Union on 6 July 2021 - concerning the endorsement of an assessment to Italy's National Recovery and Resilience Plan (NRRP).

Further information:

National Recovery and Resilience Plans are prepared by the Member States of the European Union (EU) and comprise a package of reforms and investment initiatives to be implemented by 2026 and supported by the Recovery and Resilience Facility (RRF). These plans are assessed by the European Commission and approved by the Council of the European Union. The assessment is based on criteria set out in Regulation (EU) 2021/241 - also known as the RRF Regulation.

The plan was submitted by national authorities on 30 April 2021. A positive assessment of the Italian NRRP was adopted by the Commission on 22 June. It recommends that the Council endorses the disbursement of €68.9 billion in grants and €122.6 billion in loans under the RRF over the period 2021-2026. The Commission's analysis considered, in particular, whether the investments and reforms contained in Italy's plan support the green and digital transitions; contribute to effectively addressing challenges identified in the European Semester; and strengthen its growth potential, job creation and economic and social resilience.

The proposed Decision was formally endorsed by the Council of the European Union at a meeting on 13 July. The first €24.9 billion - equivalent to 13% of the grant and loan component of the country's financial allocation - was disbursed by the Commission on 13 August.

Source Link https://eur-lex.europa.eu/legal-content/EN/ALL/?uri=CONSIL:ST_10160_2021_INIT
Related Links
Commentary and Analysis
Friedrich Ebert Foundation: The Recovery Plan in Italy Setting the course for a climate-neutral and digital future? http://library.fes.de/pdf-files/bueros/rom/17112.pdf
Foreign Policy: Argument, 18/04/2021: Italy’s Economic Recovery Plan Needs to Think Local https://foreignpolicy.com/2021/04/18/italy-pandemic-economy-recovery-plan-next-generation-eu-climate-circular-economy-sustainability/
Bruegel: Blog, 29/04/2021: Setting Europe’s economic recovery in motion: a first look at national plans https://www.bruegel.org/2021/04/setting-europes-economic-recovery-in-motion-a-first-look-at-national-plans/
Nature (Italy): News, 04/05/2021: Italy’s recovery plan: the numbers are in https://www.nature.com/articles/d43978-021-00054-1
IPS Journal: European Integration, 14/06/2021: Europe's South on the path to recovery? https://www.ips-journal.eu/topics/european-integration/europes-south-on-the-path-to-recovery-5241/
Associated Press, 23/06/2021: Can pandemic recovery plan end Italy’s years of stagnation? https://apnews.com/article/italy-europe-technology-science-health-5b1f65bc6c7a2fc0826c8b4d0b55005c
Lumsa University: Jean Monnet Chair on EU Approach to Better Regulation: News, 17/08/2021: Italian National Recovery and Resilience Plan (NRRP) https://betteregulation.lumsa.it/italian-national-recovery-and-resilience-plan-nrrp
ING Think: Articles, 21/10/2021: The Italian draft budgetary plan confirms a fiscal expansion for 2022 https://think.ing.com/articles/the-italian-draft-budgetary-plan-confirms-a-fiscal-expansion-for-2022
The Economist, 06/11/2021: Italy’s new prime minister has had a good first nine months https://www.economist.com/europe/italys-new-prime-minister-has-had-a-good-first-nine-months/21806085
EUCRIM, 18/11/2021: Italian Recovery and Resilience Plan and the Protection of EU Financial Interests ‒ Enhancing the Criminal Justice System in the Age of Structural Reforms https://doi.org/10.30709/eucrim-2021-024
Reuters, 25/11/2021: Analysis: Skills shortage in southern Italy could stymie recovery drive https://www.reuters.com/world/europe/skills-shortage-southern-italy-could-stymie-recovery-drive-2021-11-25/
The Guardian: Editorial, 09/01/2022: The Guardian view on Italy’s Draghi-dependency: understandable but not healthy https://www.theguardian.com/commentisfree/2022/jan/09/the-guardian-view-on-italys-draghi-dependency-understandable-but-not-healthy
EPRS: Briefing, January 2022: Italy's National Recovery and Resilience Plan: Latest state of play https://www.europarl.europa.eu/thinktank/en/document/EPRS_BRI(2021)698847

News
EurActiv, 08/12/2020: Italy’s Recovery Plan draft revealed https://www.euractiv.com/section/politics/short_news/italys-recovery-plan-draft-revealed/
EurActiv, 19/04/2021: Italy risks missing Recovery Plan deadline ‘due to EU concerns’ https://www.euractiv.com/section/economy-jobs/news/italy-risks-missing-recovery-plan-deadline-due-to-eu-concerns/
Politico, 25/04/2021: Italy promises greener, fairer society in Europe’s biggest coronavirus recovery plan https://www.politico.eu/article/italy-italian-prime-minister-mario-draghi-recovery-plan/
Bloomberg, 26/04/2021: Draghi Says Italy’s Fate on the Line With EU Recovery Plan https://www.bloomberg.com/news/articles/2021-04-26/draghi-says-italy-s-fate-is-on-the-line-with-eu-recovery-plan
Bloomberg, 29/04/2021: Italy Gives Final Green Light to Recovery Plan With EU Funds https://www.bloomberg.com/news/articles/2021-04-29/italy-gives-final-green-light-to-recovery-plan-with-eu-funds
ANSA, 29/04/2021: Draghi cabinet to give final approval to Recovery Plan https://www.ansa.it/english/news/politics/2021/04/29/draghi-cabinet-to-give-final-approval-to-recovery-plan_555d2ffa-73b2-404c-a481-7ecb4d899124.html
Reuters, 01/05/2021: Italy submits its Recovery Plan to EU Commission just before deadline https://www.reuters.com/article/idUSKBN2CI30C
EurActiv, 24/05/2021: Italy’s recovery plan decree to speed public works hits opposition https://www.euractiv.com/section/economy-jobs/news/italys-recovery-plan-decree-to-speed-public-works-hits-opposition/
ANSA, 21/06/2021: EU starts procedure to approve Italy's NRRP https://www.ansa.it/english/news/politics/2021/06/21/eu-starts-procedure-to-approve-italys-nrrp_f7ddb0c3-0360-40fb-8e58-897d26bff1a9.html
RFI News, 22/06/2021: Italy PM promises reform as EU greenlights virus funds https://www.rfi.fr/en/business-and-tech/20210622-italy-pm-promises-reform-as-eu-greenlights-virus-funds
Euronews, 22/06/2021: Brussels greenlights Italy's €191.5 billion COVID-19 recovery plan https://www.euronews.com/2021/06/22/brussels-greenlights-italy-s-191-5-billion-covid-19-recovery-plan
Politico, 22/06/2021: Draghi is ‘certain’ that parts of recovery fund are here to stay https://www.politico.eu/article/italys-draghi-is-certain-that-recovery-fund-is-here-to-stay/
EurActiv, 23/06/2021: EU Commission chief green lights Italian recovery plan https://www.euractiv.com/section/politics/short_news/eu-commission-chief-green-lights-italian-recovery-plan/
ANSA Agency, 20/07/2021: Recovery Plan: Italy resilient in luring investment - EY https://www.ansa.it/english/news/2021/07/20/recovery-plan-italy-resilient-in-luring-investment-ey_3bd24c5e-003d-44de-8058-4284344aa1dc.html
EUObserver, 30/08/2021: Wobbly Italy gets first EU billions of pandemic aid https://euobserver.com/coronavirus/152729
Associated Press, 22/12/2021: Draghi says he’s done his job, as he eyes Italian presidency https://apnews.com/article/business-italy-europe-economic-growth-mario-draghi-58e647ec936ac23e64e587757673ddfb

Official
EUR-LEX: COM(2021)344: Proposal for a Council Implementing Decision on the approval of the assessment of the recovery and resilience plan for Italy https://eur-lex.europa.eu/legal-content/EN/ALL/?uri=COM:2021:344:FIN
EUR-LEX: SWD(2021)165: Staff Working Document accompanying the Proposal - Analysis of the recovery and resilience plan of Italy https://eur-lex.europa.eu/legal-content/EN/ALL/?uri=SWD:2021:165:FIN
European Commission: Recovery and Resilience Facility: National Recovery and Resilience Plans https://ec.europa.eu/info/business-economy-euro/recovery-coronavirus/recovery-and-resilience-facility_en#national-recovery-and-resilience-plans
European Commission: Recovery and resilience plan for Italy https://ec.europa.eu/info/business-economy-euro/recovery-coronavirus/recovery-and-resilience-facility/italys-recovery-and-resilience-plan_en
Italian Government: Presidency of the Council of Ministers: National Recovery and Resilience Plan https://www.governo.it/it/node/17027
Italian Ministry of Economy and Finance: The National Recovery and Resilience Plan (NRRP) https://www.mef.gov.it/en/focus/The-National-Recovery-and-Resilience-Plan-NRRP/
European Commission: Press Release, 01/05/2021: Recovery and Resilience Facility: Belgium, Italy, Austria, and Slovenia submit official recovery and resilience plans https://ec.europa.eu/commission/presscorner/detail/en/ip_21_2101
European Commission: Press Release, 22/06/2021: NextGenerationEU: European Commission endorses Italy's €191.5 billion recovery and resilience plan https://ec.europa.eu/commission/presscorner/detail/en/ip_21_3126
European Commission: Questions and answers: European Commission endorses Italy's €191.5 billion recovery and resilience plan (22 June 2021) https://ec.europa.eu/commission/presscorner/detail/en/qanda_21_3128
European Commission: Statement by President von der Leyen on Italy's recovery and resilience plan (22 June 2021) https://ec.europa.eu/commission/presscorner/detail/en/statement_21_3158
European Commission: Press Release, 13/08/2021: NextGenerationEU: European Commission disburses €24.9 billion in pre-financing to Italy https://ec.europa.eu/commission/presscorner/detail/en/ip_21_4066
Italian Central Bank: Italy is Back on Track: Recovery, Resilience and Attractiveness - Remarks by Alessandra Perrazzelli, Deputy Governor of the Bank of Italy (24 November 2021) https://www.bancaditalia.it/pubblicazioni/interventi-direttorio/int-dir-2021/Perrazzelli_Expo_Dubai_24_novembre_2021.pdf

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