EC approved CR's EUR 7bn recovery and resilience plan

Published: 23.08.2021 Related countries:  Czech Republic Czech Republic

The European Commission (EC) promised a 7bn subsidy for Czechia's recovery from covid-19 and its green and digital transformation.

The European Commission (EC) has approved the Czech Republic's EUR 7bn Recovery and Resilience Plan, which will support the implementation of key investment and reform measures to help the Czech Republic emerge stronger from the COVID-19 pandemic. The aim is to tackle common European challenges through green and digital transformation and to strengthen economic and social resilience and cohesion of the Single Market. As a next step, the European Council now has four weeks to adopt the EC proposal. Thereafter, the Czech Republic will be paid EUR 910m in pre-financing, representing 13% of the total amount allocated. Further disbursements will be authorised by the EC on the basis of satisfactory achievement of the milestones and targets set out in the Council Implementing Decision.

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Source: Czech Information Agency