Lex Signing ceremony on Recovery and Resilience Facility to release billions by summer
- 3 years ago
Top European Union officials on Friday urged member countries to swiftly submit plans for how they would use their share of the bloc’s massive coronavirus recovery fund so that the sorely-needed money can be released starting this summer. https://www.eudebates.tv/debates/eu-policies/economy/eu-taxation-tries-to-follow-digital-and-globalised-economy/
The call came as the officials signed an agreement on a 672.5 billion-euro ($814 billion) “Recovery and Resilience Facility” made up of loans and grants devised to help the EU‘s 27 countries breathe new life into their virus-ravaged economies.
#eudebates #NextGenerationEU #MFF #EUbudget
The facility is the central pillar of the 750 billion-euro ($908 billion) recovery plan adopted by EU leaders last year. It must still be endorsed by national parliaments, hopefully within weeks.
Once that is ratified, “the (European) Commission will go to the market, raise money, and disburse,” Commission President Ursula von der Leyen said.
“By mid-year we should be able to disburse the first funds,” she said. Up to 13% could be handed over then.
Von der Leyen also said that the EU aims to have 70% of adults across the 27-nation bloc, which has a population of around 450 million people, vaccinated by the end of the summer.
To receive their share of the recovery aid, which is linked to a series of undertakings and respect of the rule of law, EU countries have been requested to submit reform plans by the end of April. The plans must dedicate at least 37% of the budgets to climate and at least 20% to digital transformation. The funding will be available for three years.
Lex Signing ceremony on Recovery and Resilience Facility: - Joint Press Conference by David SASSOLI, EP President, Antonio COSTA, Portuguese Prime Minister and by Ursula von der LEYEN, EC President, on behalf of the Presidency of the Council.
The Recovery and Resilience Facility, the instrument at the heart of the Next Generation EU European Recovery Plan submitted this week for the approval of MEPs, was described as a historic turning point in the construction of Europe, a symbol of unity and solidarity of the European Union towards citizens weakened by the Covid-19 pandemic, Tuesday 9 February, during a debate in the European Parliament.
MEPs vote on the Recovery and Resilience Facility (RRF). Speaking at the debate, Hungarian MEP Katalin Cseh called on the EU to deliver on the legal guarantees to involve local government.
“This parliament has fought for and delivered legal guarantees for the protection of our historic recovery fund so that taxpayer’s money does not get diverted by corruption so that this time Viktor Orbán’s son-in-law does not scoop up these funds,” said Cseh.
She said that the parliament had secured guarantees that member states must involve local authorities.
The call came as the officials signed an agreement on a 672.5 billion-euro ($814 billion) “Recovery and Resilience Facility” made up of loans and grants devised to help the EU‘s 27 countries breathe new life into their virus-ravaged economies.
#eudebates #NextGenerationEU #MFF #EUbudget
The facility is the central pillar of the 750 billion-euro ($908 billion) recovery plan adopted by EU leaders last year. It must still be endorsed by national parliaments, hopefully within weeks.
Once that is ratified, “the (European) Commission will go to the market, raise money, and disburse,” Commission President Ursula von der Leyen said.
“By mid-year we should be able to disburse the first funds,” she said. Up to 13% could be handed over then.
Von der Leyen also said that the EU aims to have 70% of adults across the 27-nation bloc, which has a population of around 450 million people, vaccinated by the end of the summer.
To receive their share of the recovery aid, which is linked to a series of undertakings and respect of the rule of law, EU countries have been requested to submit reform plans by the end of April. The plans must dedicate at least 37% of the budgets to climate and at least 20% to digital transformation. The funding will be available for three years.
Lex Signing ceremony on Recovery and Resilience Facility: - Joint Press Conference by David SASSOLI, EP President, Antonio COSTA, Portuguese Prime Minister and by Ursula von der LEYEN, EC President, on behalf of the Presidency of the Council.
The Recovery and Resilience Facility, the instrument at the heart of the Next Generation EU European Recovery Plan submitted this week for the approval of MEPs, was described as a historic turning point in the construction of Europe, a symbol of unity and solidarity of the European Union towards citizens weakened by the Covid-19 pandemic, Tuesday 9 February, during a debate in the European Parliament.
MEPs vote on the Recovery and Resilience Facility (RRF). Speaking at the debate, Hungarian MEP Katalin Cseh called on the EU to deliver on the legal guarantees to involve local government.
“This parliament has fought for and delivered legal guarantees for the protection of our historic recovery fund so that taxpayer’s money does not get diverted by corruption so that this time Viktor Orbán’s son-in-law does not scoop up these funds,” said Cseh.
She said that the parliament had secured guarantees that member states must involve local authorities.