The EU Commission has approved Italy’s Recovery Plan

The EU Commission has approved Italy’s Recovery Plan
The EU Commission has approved Italy’s Recovery Plan

AGI – The European Commission has approved the National Recovery and Resilience Plan for Italy. It is worth € 191.5 billion, of which € 68.9 billion in grants and € 122.6 billion in loans. The Commission has promoted the plan, which will have to be approved by the Council within four weeks, with a score of 10 A and only B (on costs).

The collaboration with the EU Commission on PNRR “has been very fruitful” said Prime Minister Mario Draghi, in a press conference with the President of the EU Commission, Ursula Von der Leyen. “I hope it is the dawn of the recovery of the Italian economy”. “Certainly the Italian government and all of us have a responsibility towards the rest of the European countries, towards the European citizens who pay taxes. We therefore have a responsibility not only towards ourselves but also towards the citizens of Europe” .

The Italian PNRR is ambitious and far-sighted and will allow us to build a better future for Italy and for Europe and the contributions of the Recovery will allow us to “make Italy the engine of growth in Europe” said von der Leyen, “The commission he will be vigilant to ensure that the full potential of Next Generation Eu is exploited. Your success is our success, Italy’s success is Europe’s success. Because a strong Italy makes Europe stronger “. “I am proud that Next Generation Eu will help the Italian people to look to the future with confidence and ambition. Now is the time to materialize. We will be by your side every step of the way to ensure that the plan is an Italian and European success.” “We always make a very conservative assessment of the impact that the respective national recovery resilience plan will have on the national economy” and “the Italian plan will have an impact of approximately 1.5 to 2.5 percent of GDP and beyond 240,000 new jobs in Italy until 2026 “.

The Italian Pnrr, the most important of the whole European Next Generation Eu project, allocates, according to the evaluation of the Brussels technicians, 37% of the total expenditure to measures in support of climate objectives and 25% to the digital transition. The plan includes investments to finance a large-scale renovation program to increase the energy efficiency of buildings. It also includes measures to promote the use of renewable energy sources, including hydrogen.

It places particular emphasis on reducing greenhouse gas emissions from transport, with investments in sustainable urban mobility and railway infrastructure. Measures to support Italy’s digital transition include investments to support the digitalization of businesses and the expansion of ultra-broadband networks and 5G connectivity.

Investments are also aimed at the digitalisation of the public administration, with interventions planned for the public administration in general, health, justice and education.

The Commission believes that the Italian plan includes a wide range of mutually reinforcing reforms and investments that contribute to effectively addressing all or a significant part of the economic and social challenges outlined in the country-specific recommendations addressed to Italy by the Council in European semester in 2019 and 2020. In particular, the plan includes measures to contribute to the sustainability of public finances, increase the resilience of the health sector, improve the effectiveness of active labor market policies and improve educational outcomes.

The plan should also stimulate investment in order to reduce regional disparities, increase the efficiency of the public administration and the efficiency of the judiciary, improve the business environment and remove barriers to competition.

The Italian plan proposes projects in six European flagship areas. These are specific investment projects, which address issues common to all Member States in sectors that create jobs and growth and are necessary for the double transition. For example, Italy has proposed to allocate € 12.1 billion for energy efficiency in residential buildings, € 32.1 billion for sustainable mobility and € 13.4 billion to support the digitalisation of businesses. The Commission’s assessment also notes that none of the measures included in the plan significantly harm the environment, in line with the requirements of the Recovery Regulation. The control systems put in place by Italy are considered adequate to protect the financial interests of the Union. The plan provides sufficient details on how national authorities will prevent, detect and correct cases of conflict of interest, corruption and fraud related to the use of the funds.

The recovery money must be “spent all, but above all spent well, efficiently, effectively, but also honestly. In recent weeks we have already made important steps on reforms such as that on governance and simplifications”. Prime Minister Mario Draghi said this at a press conference with the president of the EU commission Ursula Von Der Leyen. (AGI) Gil

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