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

Author (Corporate)
Series Details COM (2021) 344
Publication Date 22/06/2021
Content Type , ,

Summary:

Proposal for a Council Implementing Decision - tabled by the European Commission on 22 June 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 adopted 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=COM:2021:344:FIN
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

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

Official
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/recovery-and-resilience-plan-italy_en
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

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