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NextGenerationEU: Commission disburses €126 million and €41.1 million in pre-financing to Estonia and Malta respectively

On 17 December, the Commission disbursed €126 million to Estonia in pre-financing, equivalent to 13% of the country's financial allocation under the Recovery and Resilience Facility (RRF).

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European Union

date:  21/12/2021

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On the same day, a disbursement of €41.1 million was made to Malta in pre-financing, equivalent to 13% of the country's financial allocation under the RRF. The pre-financing payments will help to kick-start the implementation of the crucial investment and reform measures outlined in each country’s recovery and resilience plan. Estonia is set to receive €969.3 million in total, fully consisting of grants, over the lifetime of its plan, while Malta is set to receive €316.4 million in total, also fully consisting of grants, over the lifetime of its plan. Since June 2021, the Commission has raised €71 billion for NextGenerationEU via long-term EU-Bonds, including €12 billion through the first ever NextGenerationEU green bond issuance. On 14 December, the Commission published its funding plan for the first semester of 2022. The plan foresees the issuance of €50 billion in long-term EU-Bonds between January and June 2022, to be complemented by short-term EU-Bills. In addition, the Commission currently has around €20 billion in EU-Bills outstanding. Part of NextGenerationEU, the RRF will provide €723.8 billion (in current prices) to support investments and reforms across Member States.