EU States Received $163.2Bln Via Recovery Facility Since 2021 - European Commission

MOSCOW (UrduPoint News / Sputnik - 31st March, 2023) The European Union has already received 150 billion Euros ($163.2 billion) via the Recovery and Resilience Facility (RRF), which was established in 2021 to support the bloc's post-pandemic reforms, the European Commission said on Friday.

"Following today's payment of ��6 billion to Spain, the Commission has now disbursed over ��150 billion to Member States under the Recovery and Resilience Facility (RRF). This is an important milestone in the implementation of the RRF, the key instrument at the heart of the ��800 billion NextGenerationEU recovery plan for Europe," the commission said in a statement.

The statement also said that in over two years of existence, the RRF has been carrying out transformative reforms and investments across the bloc, "fast-forwarding the green and digital transitions and increasing the Union's overall resilience.

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The commission has launched an interactive map to present the RRF-supported projects which were carried out across the bloc, the document said.

"The map will contribute to further increasing transparency on the functioning of the RRF and on its tangible impact for EU citizens, businesses, and civil society," it added.

The RRF was established to provide up to 723.8 billion euros to support post-pandemic reforms and projects in the EU member states. Before allocating the funds, the commission reviews recovery plans presented by EU states based on country-specific recommendations and assesses whether they dedicate at least 37% of expenditure to climate objectives and 20% to the digital transition.