The European Commission pays REPowerEU pre-financing to Romania and 8 other Member States under the Recovery and Resilience Facility

The European Commission pays REPowerEU pre-financing to Romania, Belgium, Croatia, Cyprus, Finland, Greece, Italy, Latvia and Spain under the Recovery and Resilience Facility.

On 25 January, the European Commission disbursed the following pre-financing amounts related to REPowerEU funds under the Recovery and Resilience Facility (RRF): €145.1 million to Belgium and €585.1 million to Croatia in grants and loans; €20.9 million to Cyprus, €25.4 million to Finland, €158.7 million to Greece, €551.2 million to Italy, €26.9 million to Latvia, €288 million to Romania in grants and €340 million to Spain in loans.

These pre-financing will help accelerate the implementation of the main investment and reform measures outlined in each REPowerEU chapter. This will accelerate the achievement of the REPowerEU plan’s objectives of saving energy, producing clean energy and diversifying energy supply, with the aim of making Europe independent of Russian fossil fuels following Russia’s invasion of Ukraine.

Today’s payments follow the Council’s approval of these countries’ revised plans, including a chapter on REPowerEU, and the signature of financial agreements.

The pre-financing, paid in one or two stages, represents up to 20% of the additional funds requested to finance each country’s REPowerEU chapter. Where pre-financing is paid in two stages, the second part must be paid within 12 months of payment of the first part.

More information on the measures included in the REPowerEU chapters is available here for Belgium, for Croatia here, for Cyprus here, for Finland here, for Greece here, for Italy here, for Latvia here, for Romania here and for Spain here. The Council approved all 23 chapters on REPowerEU that have been presented so far.

For more information on REPowerEU and the link to the full RRF, please refer to the Q&A page.

26.01.2024 / Editor, Andreea Dragan

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