Home » EU: ‘Italy presented the new Pnrr with Repower’ – Economy

EU: ‘Italy presented the new Pnrr with Repower’ – Economy

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EU: ‘Italy presented the new Pnrr with Repower’ – Economy

Italy presented the new Pnrr to the EU with the addition of the REPowerEU chapter. This is what the EU Commission announces, confirming that the government “has proposed to review 144 investments and reforms relating to the six thematic areas of the plan. The changes concern digitization and competitiveness, ecological transition, sustainable mobility, education and research, inclusion and cohesion and the Salute: Italy’s request to change its plan is mainly based on the need to take into account recent global headwinds, such as high inflation and supply chain constraints, Brussels explains.

“The Commission will now assess whether the amended plan still meets the assessment criteria outlined in the Recovery Regulation. If the Commission’s assessment is positive, it will present a proposal for an amended Council Implementing Decision to reflect the changes to the Italian plan. The Council will then up to four weeks to approve the Commission’s assessment”, it is still explained in the note from the European executive. Palazzo Berlaymont did not specify whether Italy has requested further loans. Rome, however, had already made full use of its budget in the budget initially envisaged under the Next Generation EU.

“Italy’s allocation under the RePowerEU chapter in terms of new grants is €2.76 billion. Italy has not proposed to transfer funds from the Brexit Adjustment Reserve (the so-called Brexit reserve, whose share for the ‘Italy amounts to 5 billion, ed) to its recovery and resilience plan”. This is what the European Commission communicates.

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