The European Commission said Wednesday that it has given the green light to the ninth instalment of Italy's National Recovery and Resilience Plan (NRRP), a tranche worth 12.8 billion euros.
"With this tranche, the total funds disbursed to Italy reach approximately €166 billion, equal to 85% of the total resources allocated under the Plan," European Commission Vice President for Cohesion and Reforms Raffaele Fitto said via social media.
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.
Payment of the tranches is linked to the achievement of milestones regarding the investments and related structural reforms.
The reforms and investments for the ninth instalment regarded public administration and the justice system and education systems.
