EU Court of Auditors: Corona aid delayed
EU Court of Auditors: Corona aid delayed
© AFP
The European Court of Auditors has criticized delays in the payment of Corona aid funds. If the funds from the multi-billion euro EU recovery fund continue to flow as slowly as before, projects may not be completed on time by 2026, the auditors warned in a special report published on Monday. In countries such as Italy and Romania, investments are in danger of being wasted.
Two years before the aid expires, the EU countries have “used less than a third of the planned funds and achieved less than 30 percent of their pre-determined milestones (…),” explained the responsible auditor, Ivana Maletic. In February, the Commission put the total amount of funds distributed so far at 225 billion euros.
“Significant sums are being made available for some measures that cannot be implemented,” Maletic continued to criticize. According to the auditors, the delays already indicate that hydrogen projects in Italy or flood protection plans in Romania, for example, will not be completed. The EU Commission cannot demand the money paid out back either, because this is not provided for in the rules, the Court of Auditors criticized.
The EU aid fund was largely the brainchild of French President Emmanuel Macron. The then Chancellor Angela Merkel (CDU) joined after initial hesitation. The EU Commission raises the billions on the capital market and distributes them to the member states in the form of grants or loans.
AFP
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