Italy is entitled to the largest part from the fund – a total of more than 200 billion euros in grants or cheap loans.
(Photo: dpa)
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Rom According to insiders, Italy runs the risk of not being able to meet the schedule for tapping the European Corona recovery fund. Actually, all EU countries should submit their plans by the end of April on how they want to use funds from the 750 billion euro fund.
The EU Commission was not satisfied with the previous draft from Rome, said a person familiar with the process from the Reuters news agency. The new Prime Minister Mario Draghi may be forced to delay at least two weeks.
Above all, Brussels is demanding more details on implementation. A second insider said mid-May is realistic. A Draghi spokesman assured that the deadline would be met. “The plan will be presented on April 30.” A spokesman for the Italian Ministry of Economic Affairs said our aim was not to miss the deadline.
Italy, which has been particularly hard hit by the pandemic, is entitled to most of the fund – a total of more than 200 billion euros in grants or cheap loans. The money should be paid out over six years – and above all flow into climate protection and digitization.
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A spokeswoman for the EU Commission did not want to comment on the specific case of Italy. In principle, all plans of the EU countries should be submitted by the end of April, but for some countries it will probably take a few weeks longer.
Quality comes before speed. According to earlier information from EU Commission Vice-President Valdis Dombrovskis, the ratification process should be completed by June, and the first payments will follow in July. The money is to be used to drive the economic recovery from the corona crisis.
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