Dáil Éireann Debate, Thursday - 21 January 2021
91. Deputy Pearse Doherty asked the Minister for Finance if the Government has submitted its plans to the European Commission for funds received under the recovery and resilience facility; if so, when they were submitted; and if he will make a statement on the matter. [3460/21]
Amharc ar fhreagra92. Deputy Pearse Doherty asked the Minister for Finance if he will publish the national reform programme to be submitted to the Commission under the recovery and resilience facility; and if he will make a statement on the matter. [3461/21]
Amharc ar fhreagra93. Deputy Pearse Doherty asked the Minister for Finance the breakdown of the programmes and allocations to each programme that will be funded through the Government’s allocation through the recovery and resilience facility; and if he will make a statement on the matter. [3462/21]
Amharc ar fhreagraI propose to take Questions Nos. 91 to 93, inclusive, together.
The 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 Next Generation EU, made up of €360bn in loans and €312.5bn in grant (2018 prices).
On 18 December 2020, political agreement was reached on the Recovery and Resilience Facility between the Council and the European Parliament on the draft regulation establishing the Recovery and Resilience Facility and it is expected that the final Regulation will be formally adopted in February.
In order to access funds, Member States will need to prepare National Recovery and Resilience Plans 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 30 April 2021. Disbursements will take place upon the achievement of pre-set targets and milestones identified in the plans. The final targets and milestones must be met on or before August 2026 to ensure final payments can be made.
The Department of Public Expenditure and Reform, working with the Department of the Taoiseach, the Department of Finance and the Department of Enterprise, Trade and Employment is responsible for preparing the National Recovery and Resilience Plan. When it has been agreed by the Government, it will be submitted to the European Commission to meet the deadline of 30 April 2021.
The breakdown of the programmes and allocations to each programme will be considered by the Government as part of the National Recovery and Resilience Plan and it is expected to be published once it has been finalised and approved.
