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

Author (Corporate)
Series Details COM (2021) 332
Publication Date 18/06/2021
Content Type ,

Summary:

Proposal for a Council Implementing Decision - tabled by the European Commission on 18 June 2021 - concerning the endorsement of an assessment to Luxembourg'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.

A positive assessment of the Luxembourgish NRRP was adopted by the Commission on 18 June 2021. It recommends that the Council endorses the disbursement of €93 million in grants under the RRF. The Commission's analysis considered, in particular, whether the investments and reforms contained in Luxembourg'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 €12.1 million - equivalent to 13% of the grant and loan component of the country's financial allocation - was disbursed by the Commission on 3 August.

Source Link https://eur-lex.europa.eu/legal-content/EN/ALL/?uri=COM:2021:332:FIN
Related Links
News
RTL Today, 22/07/2020: Luxembourg to receive 100 million euros in aid https://today.rtl.lu/news/luxembourg/a/1552596.html
Chronicle.lu, 10/03/2021: Luxembourg Recovery Plan to Focus on Investment in Green, Digital Transition https://chronicle.lu/category/finance-1/35876-luxembourg-recovery-plan-to-focus-on-green-digital-transition
Delano.lu, 11/03/2021: €333m for Luxembourg's rescue plan https://delano.lu/article/delano_eu333m-luxembourgs-rescue-plan
EurActiv, 03/08/2021: Portugal, Luxembourg, Belgium get first tranches of EU recovery funds https://www.euractiv.com/section/economy-jobs/news/portugal-luxembourg-belgium-get-first-tranches-of-eu-recovery-funds/

Official
EUR-LEX: SWD(2021)159: Staff Working Document accompanying the Proposal - Analysis of the recovery and resilience plan of Luxembourg https://eur-lex.europa.eu/legal-content/EN/ALL/?uri=SWD:2021:159: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
Luxembourgish Government: Plan pour la Reprise et la Résilience (March 2021 - in French language) https://mfin.gouvernement.lu/dam-assets/publications/ProjetPRR-final.pdf
European Commission: Press Release, 18/06/2021: NextGenerationEU: European Commission endorses Luxembourg's €93 million recovery and resilience plan https://ec.europa.eu/commission/presscorner/detail/en/ip_21_3047
European Commission: Questions and answers: European Commission endorses Luxembourg's €93 million recovery and resilience plan (18 June 2021) https://ec.europa.eu/commission/presscorner/detail/fr/qanda_21_3049
European Commission: Press Release, 03/08/2021: NextGenerationEU: European Commission disburses €12.1 million in pre-financing to Luxembourg https://ec.europa.eu/commission/presscorner/detail/en/ip_21_4024

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