EU starts procedure to approve Italy's NRRP

(ANSA) - ROME, JUN 21 - The European Commission on Monday started the procedure to approve Italy's National Recovery and Resilience Plan (NRRP or PNRR in Italian), sources said.
    The Commission is expected to give the thumbs up within 24 hours, with European Commission President Ursula von der Leyen meeting Premier Mario Draghi on Tuesday at Rome's iconic Cinecittà cinema studios and theme park to sign off on it.
    Italy is getting the biggest single chunk of the EU's 750-billion-euro Next Generation EU Recovery Fund.
    Italy will spend around 248 billion to make the country greener and more modern as it recovers from its biggest peacetime recession as part of the NRRP.
    Around 191.5 billion euros of that money is coming from grants and low-interest loans allocated through the Recovery and Resilience Facility.
    Reforms to cut red tape and speed up a snail-paced justice system will go hand in hand with the plan. (ANSA).