Austria receives an additional 516 million euros from the EU recovery plan

According to the EU Commission, Austria has so far received 3.33 billion euros under the Recovery and Resilience Facility, including 492 million euros in pre-financing. This corresponds to 84 percent of the planned funds in the Austrian plan, with 74 percent of the milestones and targets achieved. In total, around four billion euros are to be granted to Austria as grants by 2026, which are tied to performance.

EU Recovery Plan: Aim is a More Sustainable and Resilient Europe

So-called "milestones" and "targets" must be achieved for this; Austria must accomplish 171 by 2026. With the first payment request, 44 targets were already ticked off. 1.15 billion euros went to 27 reform and 32 investment projects, focusing on sustainability and digitalization, but also social and cultural accents. The second payment request of 1.6 billion euros concerned reforms that are intended to support investment initiatives in the areas of digitalization, health, pensions, taxation, and phasing out fossil heating systems.

The Recovery and Resilience Facility was created to support Europe after the impacts of the coronavirus pandemic. It is the centerpiece of the NextGenerationEU recovery instrument. According to the Commission, the fundamental goal is to make Europe more sustainable, digital, and resilient. In total, up to 672.5 billion euros (at 2018 prices) are to flow to support investments and reforms. Of this, 312.5 billion euros are earmarked as grants and 360 billion euros as loans.

(APA/Red)

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