Italy to receive third NRRP tranche in early Oct - Ciriani

(ANSA) - ROME, SEP 6 - Italy can expect to receive the long-delayed third installment of European Union funding for its massive post-Covid National Recovery and Resilience Plan (NRRP) at the start of October, Minister for Relations with Parliament Luca Ciriani told the Lower House on Wednesday.
    The payment of the installment worth 18.5 billion euros in support of initiatives to make the country's economy greener and more modern is subject to the opinion of the EU's Economic and Financial Committee, which is set to meet on September 11, Ciriani said.
    The minister added that the European Council is expected to take a decision on September 19 on the proposed amendments submitted by Italy for the fourth installment of payment for the NRRP, worth16.5 billion euros.
    "This will make it possible to submit the request for payment on September 20, so that it can be disbursed by the end of 2023," said Ciriani.
    The NRRP consists of 132 investments and 58 reforms, supported by 68.9 billion euros in grants and 122.6 billion euros in loans.
    Some 37.5% of the plan supports climate objectives and 25.1% supports the digital transition.
    To date Italy has received nearly 67 billion euros in funding.
    The plan has been at the centre of political tension linked to fears it will not be possible to complete all the projects and meet all the targets by the final deadline of 2026. (ANSA).