Italy's recovery plan will allocate 40% of European funds to developing the southern regions

The recovery plan worth 221,500 million euros that Italy will present to the European Commission will allocate 40% of the resources to promote the development of the southern regions, while 40% will go to projects to promote the ecological transition and a 27% to digital projects, reported the Government, which ensures that it has the endorsement of the EC.

“The plan is fully consistent with the six pillars” of the European funds program, “and complies with the parameters established by European regulations, with 40% of ecological projects and 27% of digital projects,” it is explained in a statement. official issued this morning after a day of tensions between the government coalition forces and intense negotiations with the EC.

Closed plan

The plan “as a whole is closed,” said government sources quoted by local media shortly before the start of the Council of Ministers last night to finalize the plan, which was delayed more than 12 hours due to the difficulty of the deliberations.

A telephone call between the Italian Prime Minister, Mario Draghi, and the President of the EC, Ursula Von Der Leyen, unblocked the “deadlock” in which the negotiation between both parties was found for the definition of the text, after the The head of the Government would guarantee Italy’s commitment to the reforms necessary for the relaunch and growth of the country, the sources explained.

Draghi is scheduled to appear before Parliament between Monday and Tuesday to explain the plan and, after the approval of the parties, approve it in a new Council of Ministers and send it to the EC before April 30.

The outlines of the Italian recovery

The meeting of the ministers ended after midnight, when the Government issued a note with the general lines of the so-called National Recovery and Resilience Plan (PNRR), which had already been revealed by the media days before.

In that final communiqué, the Government affirmed that the objective of the PNRR is to “modernize the public administration, strengthen the productive system and intensify efforts to combat poverty, social exclusion and inequality, in order to resume a path of economic growth. sustainable and long-lasting by removing the obstacles that have blocked Italian growth in recent decades “.

The investments are articulated in six pillars: digitization, innovation, competitiveness and culture; green revolution and ecological transition; infrastructure for sustainable mobility; education and research; inclusion and cohesion; and health.

The Government recalls that Italy “is the first beneficiary, in absolute value, of the two main instruments of the Next Generation EU (NGEU) program, drawn up by the European Union”, which guarantees “resources worth 191.5 billion euros, of which of which 68.9 billion are non-refundable grants, to be used in the 2021-2026 period “.

And it ensures that the PNRR “is fully consistent with the six pillars of the NGEU and meets the parameters established by European regulations, with 40% of ecological projects and 27% of digital projects. Approximately 40% of territorializable resources are allocated to the south, which shows the attention paid to the issue of territorial rebalancing. “

“The planned investments will have a significant impact on the main macroeconomic variables and will significantly improve the indicators on territorial disparities and youth and female employment”

It adds that it “focuses heavily on gender mainstreaming and supporting youth education, training and employment, and contributes to each of the seven European flagship projects of the Annual Growth Strategy. EU sustainable. Indirect environmental impacts have been assessed and their magnitude minimized, in accordance with the principles behind the NGEU. “

In addition, the Government “intends to carry out four important contextual reforms: public administration, justice, simplification of legislation and promotion of competition.”

“The planned investments will have a significant impact on the main macroeconomic variables and will significantly improve the indicators on territorial disparities and youth and female employment. The reform program may further increase this impact,” adds the Government, which also advances its intention of “updating and perfecting national strategies in matters of development and sustainable mobility, environment and climate, hydrogen, automotive and health chain”.

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