“This is a historic event: since about [Fundo de Recuperação] The “Next Generation EU” at the four-day summit in July [de 2020]Until the first plan was approved, less than a year passed,” Ursula von der Lein said.
The European Commission will approve the first National Rehabilitation and Rehabilitation Plan (PRR) as early as next week for the Council’s approval. This Tuesday, Ursula von der Leyen, the executive chairman of the community, will Strasbourg announced.
“In fact, the committee will approve the national plan for the council’s approval as early as next week. This is a historic event: [Fundo de Recuperação] The “Next Generation EU” at the four-day summit in July [de 2020]It took less than a year until the first plan was approved,” he said in a debate in the European Parliament regarding the process of assessing the plans made by member states to obtain recovery funds.
After Ana Paula Zacarias, Secretary of State for European Affairs, spoke on behalf of Portugal, the presidency of the European Union, Von der Lein intervened in the debate. She emphasized that once the European Commission passed the first batch of proposals to approve the RRP Hopefully this will happen during this month, and the council “will do its best to pass them as quickly as possible to ensure that some pre-financing can begin to citizens and businesses this summer.”
Portugal is the first member country to formally submit its recovery and recovery plan to Brussels in April. The plan is expected to be the first batch of plans approved by the Commission and approved by the European Council of Finance Ministers (Ecofin). The end of the month.
The Portuguese plan is estimated to be worth 16.6 billion euros, of which 13.9 billion euros are non-repayable grants.
On June 1, once the 27 member states approve the process of their own resource decisions-which is an indispensable condition for Brussels to issue debt to the market to finance the recovery plan-once completed, the European Commission announced that it will issue about 80 billion yuan. Euro long-term bonds, this is the first financing operation to support the recovery of the European economy after the pandemic crisis.
To finance the recovery, the European Commission will borrow up to 750 billion euros in the capital market at 2018 prices on behalf of the European Union — or up to about 800 billion euros at current prices — about 150 billion euros in loans on average each year. Between mid-2021 and 2026, the European Union will become one of the major outbound markets.
These funds will fund a 672.5 billion euro recovery and resilience fund (in 2018 prices) and the core element of the “Next Generation EU”, the 750 billion euro fund approved by European leaders in July 2020, for the EU to recover from the crisis. In recovery due to the covid-19 pandemic.
Pre-financing of 13% of the total amount allocated to each member country will be provided to governments after its plan is approved.
“We are there in less than a year. Our recovery is about to begin. The plan shows the direction and funds will begin to flow in the next few weeks,” Von der Lein emphasized.