Commission welcomes next step on the approval of the recovery and resilience plans of Croatia, Cyprus, Lithuania and Slovenia

The European Commission welcomes the positive exchange of views on the Council implementing decisions on the approval of national recovery and resilience plans for Croatia, Cyprus, Lithuania and Slovenia held yesterday, 26 July, at the informal videoconference of EU Economy and Finance Ministers (ECOFIN). These plans set out the measures that will be supported by the Recovery and Resilience Facility (RRF). The RRF is at the heart of NextGenerationEU, which will provide €800 billion (in current prices) to support investments and reforms across the EU. The Council implementing decisions will be formally adopted by written procedure shortly. This formal adoption will pave the way for the payment of up to 13% of the total allocated amount for each of these Member States in pre-financing. The Commission aims to disburse the first pre-financing as quickly as possible, following the signing of the bilateral financing agreements and, where relevant, loan agreements. The Commission will then authorise further disbursements based on the satisfactory fulfilment of the milestones and targets outlined in each of the Council Implementing Decisions, reflecting progress on the implementation of the investments and reforms covered in the plans.