Dáil Éireann Debate, Tuesday - 8 December 2020
172. Deputy Catherine Murphy asked the Minister for Finance the amount drawn down from the recovery and resilience facility; the way in which it has been disbursed since drawdown; and if he will make a statement on the matter. [41093/20]
View answerThe Recovery and Resilience Facility (RRF) is the key element of the €750bn Next Generation EU/ Recovery Plan Package agreed by the European Council in July 2020. The Recovery and Resilience Facility accounts for €672.6bn of the total NGEU, made up of €360bn in loans and €312.5bn in grant (2018 prices).
The RRF is currently at trilogue negotiations between the EU Council (represented by the Presidency), the European Parliament and the Commission. The aim is to finalise agreement by end year so that the Facility can become operational in January 2021.
In order to access funds, Member States will need to prepare National Recovery and Resilience Plans (NRRPs) setting out the reform and investment objectives for the years 2021-26, for which they are seeking funding. Member States are expected to submit plans to the European Commission for approval no later than April 2021. Disbursements will then take place upon the achievement of pre-set targets and milestones identified in the plans. The final payment must take place during or before 2026, and the final target/milestone must be met by August 2026 to ensure enough time to process payment.
To date, no funding has been disbursed under the RRF, to any Member State.
