EU unlocks the first installment of PNRR funding
"On the basis of the due justification provided, the objective should be considered satisfactorily achieved": repeated 51 times, this rather (but inevitably) formal statement indicates that Italy has met all the targets and milestones related to the first installment of European funds for PNRR.
The first installment follows the disbursement of 24.9 billion euros in pre-financing, which took place in August 2021. Has a total value of approximately 24.1 billion euros. With a portion of non-repayable contributions equal to 11.5 billion and a portion of loans equal to 12.6 billion.
The amount actually paid of 21 billion euros (10 billion in grants and 11 billion in loans) is therefore net of a portion that the Commission retains on each repayment installment, equal to 13% of the pre-financing received in August 2021 from Italy.
"Good news for Italy: the first payment from the Next Generation Eu for 21 billion euros for Italy is under way", wrote the President of the European Commission, Ursula von der Leyen, on Twitter. "Congratulations to Italy. Next Generation Eu is the opportunity of a generation," she added.