BRUSSELS: The European Commission has announced that recent payments under the Recovery and Resilience Facility (RRF) have been disbursed to several EU Member States, including Czechia, Germany, Italy, Portugal, and Romania, amounting to £26.8 billion in loans and grants. These payments have pushed the total disbursed under the RRF to over £300 billion.
According to Cyprus News Agency, this significant milestone highlights the extensive reforms and investments being implemented across the European Union. The funds are designed to accelerate green and digital transitions while bolstering the Union’s overall resilience. The Commission emphasized the transformative impact of these projects, which are integral to the EU’s strategic objectives in sustainability and technology.
The RRF is a central component of the EU’s response to the economic challenges posed by the global pandemic, aiming to support recovery efforts while fostering long-term growth and stability. The facility’s funding is seen as a pivotal element in addressing both immediate economic needs and future-focused development goals.