Austria, Belgium, Denmark, France, Germany, Greece, Italy, Latvia, Luxembourg, Portugal, Slovakia and Spain got the green light for the use of EU recovery and resilience funds to boost their economies and recover from the COVID-19 fallout. The adoption of Council implementing decisions on the approval of the plans permits the Member States to sign grant and loan agreements that will allow for up to 13% pre-financing.

The Council received a positive assessment for the 12 Member States’ plans from the Commission in June, accompanied by the proposals for the Council decisions on their approval. The EU financial assistance from the €672.5 billion Recovery and Resilience Facility aims to power the European economic recovery by supporting Member States’ reforms and investment projects. The measures approved in the national plans are centred around six policy areas (‘pillars’) that include the green and digital transition, smart, sustainable and inclusive growth, and social and territorial cohesion.

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