Brussels – The European Commission (EC) has allocated 1.6 billion euros (38.9 billion CZK) to the Czech Republic from an extraordinary recovery fund designed to alleviate the consequences of the economic crisis. This announcement was made in a press release. The fourth payment from the Recovery and Resilience Facility specifically targets projects in energy, distribution networks, and healthcare sectors.
According to the EC, “Today, we disbursed 1.57 billion euros to the Czech Republic in grants, alongside 41 million euros in loans, marking the fourth payment under the Recovery and Resilience Facility (RRF), the main component of the NextGenerationEU program.” This represents the largest payment out of a total of 220 billion euros that the Czech Republic can access through its National Recovery Plan.
The Czech Republic’s fourth request was submitted to the Commission on June 16 this year. This request included 58 milestones and targets linked to 23 reforms and 26 investments. The allocated funds are anticipated to support the modernization of renewable energy facilities, electricity storage solutions, and the construction and renovation of healthcare facilities, improving the quality of rehabilitation care for patients.
The Recovery and Resilience Facility was created by the EU as part of its extraordinary support measures in response to the pandemic, under the European Recovery Plan NextGeneration EU (NextGenEU). The Czech Republic utilizes these funds to implement its National Recovery Plan.
The Czech Republic is eligible to draw up to 220 billion CZK from the Recovery and Resilience Facility (RRF), which includes 209 billion CZK in grants and 11 billion CZK in loans. This extraordinary fund was established by the EU in connection with the coronavirus pandemic, aimed at assisting member states in addressing its economic and social effects while facilitating ecological and digital economic transformation. (September 26)
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