EU, first transfer of the Recovery to Italy of 24.9 billion

The European Commission paid 24.9 billion to Italy

, as an advance of 13% on the 191.5 billion of the total amount of the

, up to 2026. The 24.9 billion are made up of 8.957 billion in aid to non-repayable fund (equal to 13% of the 68.9bn of planned grants) and 15.937bn of loans (13% of 122.6bn). Payments of the remaining 87% will flow based on the completion of the targets set.

37% of the Italian recovery and resilience plan goes into reforms and investments to ensure the green transition, while 25% of the overall budget will support the objectives for digitalization. In particular, the European Commission in its note recalls that to guarantee the green transition, with 32.1 billion euros, more regions will be integrated into the high-speed rail network and the freight rail corridors will be completed. Sustainable local transport will be enhanced through the extension of zero-emission cycle paths, subways, trams and buses, including the construction of electric charging stations across the country and hydrogen refueling points for road and rail transport.

In support of the digital transformation, € 13.4 billion will be invested, inter alia, in promoting digital technologies for businesses, with a tax credit scheme aimed at supporting and accelerating their transformation. As for strengthening economic and social resilience: € 26 billion will also go towards increasing the supply of childcare facilities, reforming the teaching profession, improving active labor market policies and the participation of women and young people to the labor market, by strengthening vocational training.

Another € 3.7 billion will go towards reforming and modernizing the civil service, strengthening administrative capacity and reforming and digitizing civil and criminal courts to shorten the length of judicial proceedings. Further investment and reforms will strengthen the business environment by improving public procurement and local public services, reducing late payment and removing obstacles to competition.

commented the European commissioner, Paolo Gentiloni, on the occasion of the disbursement of the first installment of Recovery to Italy. "Today's pre-financing is a first, concrete and tangible step to start the investments and reforms that Italy is committed to carrying out. It is a unique opportunity for Italy to relaunch the economy and build a sustainable future for the next generations, "he says in a statement.

"The intense collaboration with Italy and the solid preparation within the European Commission have allowed us to disburse the funds in record time", said the European Commissioner for Budget,

. "This shows - continues the Commissioner - that with the resources collected we will be able to quickly meet the pre-financing needs of all Member States, giving them the initial push in the implementation of the numerous green and digital projects included in their national plans".

"The first disbursement of funds under NextGenerationEU to Italy

", according to the President of the European Commission,

. "The EU has been in full solidarity with you throughout the crisis. We will remain by your side until brighter days arrive. Your recovery plan, Italy Tomorrow, shows the level of ambition needed to make the country an engine of growth for the whole of Europe. Because a strong Europe needs a strong Italy ", he adds.