The European Commission paid 1.6 billion euros to the Czech Republic from the EU recovery fund
Brussels – The European Commission (EC) today disbursed 1.6 billion euros (38.9 billion CZK) to the Czech Republic from an extraordinary recovery fund aimed at mitigating the effects of the economic crisis. The Commission announced this in a press release. The fourth payment from the so-called Recovery and Resilience Facility particularly concerns projects in the fields of energy, distribution networks, and healthcare.
“The Commission today disbursed 1.57 billion euros to the Czech Republic in the form of grants and 41 million euros in the form of loans, which is the fourth payment under the Recovery and Resilience Facility (RRF), the centerpiece of the NextGenerationEU program,” the EC informed. This is currently the highest payment from a total amount of 220 billion euros that the Czech Republic can draw from the National Recovery Plan.
The Czech Republic submitted its fourth request to the Commission on June 16 this year. The request included 58 milestones and targets related to 23 reforms and 26 investments. The funds are expected to be directed, for example, towards modernizing facilities for renewable energy sources, electricity storage, as well as projects for the construction of new healthcare facilities, the reconstruction of existing ones, and improving the quality of rehabilitation care for patients.
The Recovery and Resilience Facility was established by the EU as part of extraordinary support in response to the pandemic, known as the European Recovery Plan NextGeneration EU (NextGenEU). The Czech Republic finances the implementation of the National Recovery Plan from these funds.
From the Recovery and Resilience Facility (RRF), the Czech Republic can draw up to 220 billion CZK – of which 209 billion CZK is from grants and 11 billion CZK through loans. This is an extraordinary fund that the EU prepared in connection with the coronavirus pandemic. It is intended to help EU member states address the economic and social impacts of the pandemic and ensure the ecological and digital transformation of the economy. (September 26)
