The European Commission said Friday that it has approved payment of the seventh tranche of Italy's National Recovery and Resilience Plan (NRRP) worth 18.3 billion euros.
The NRRP seeks to make the Italian economy greener and more modern with projects financed with the help of 194.4 billion euros in EU grants and low-interest loans under of the bloc's post-Covid Recovery Fund.
The payments are conditional on Italy passing milestones, including a number of structural reforms.
The latest tranche takes the amount paid out to Italy to 140.4 billion euros, 72% of the total allocation.
European Affairs Minister Tommaso Foti said the payment confirms that Italy is the leader at the EU level when it comes to implementing its NRRP.
