NewsCroatia Set to Receive Additional Funding from EU's Recovery and Resilience Facility

Croatia Set to Receive Additional Funding from EU’s Recovery and Resilience Facility

Date:

Share post:

Croatia anticipates the arrival of the fourth installment of European funds from the EU’s Recovery and Resilience Facility for its national recovery plan on Monday.

During Wednesday’s cabinet session, Prime Minister Andrej Plenković announced the government’s intention to promptly submit a request for the fifth installment.

The first, second, and third disbursements from the EU’s Recovery and Resilience Facility totaled 700 million euros each. However, the forthcoming fourth payment is expected to be notably lower. Plenković emphasized that the subsequent five payments are projected to increase due to planned projects in the second phase of the national plan.

Plenković stated, “Croatia has around 10.5 billion euros in total at its disposal in grants and loans. We are now about to receive the fourth disbursement of 162 million euros,” further indicating Croatia’s intention to seek the fifth installment of 822 million euros without delay.

Assessing the allocated funding for the recovery and resilience plan as a percentage of GDP, Plenković highlighted Croatia’s position among EU members, noting that Croatia, with 15% of its GDP, is among the top recipients, trailing only Greece at 18% of GDP.

“With smart investments and in conjunction with national resources, along with the National Recovery and Resilience Plan and the Solidarity Fund, we have investment momentum unprecedented in Croatia’s history. That’s why we are 14 billion euros in the black with respect to drawing EU funds and paying our dues,” Plenković remarked.

Croatia is directing the EU funds towards various initiatives, including the renovation of buildings damaged in the 2020 earthquakes, investments in water and waste management, rail infrastructure, hospitals, nursing homes, schools, and day care centers.

latest articles

Related articles

Caring for Your 3-Month-Old with a Cold: Tips & Tricks

1. Reassurance and Safety: Caring for a three-month-old with a cold can be a worrisome experience for parents, but...

5 Best Natural Vitamins for Men

In the pursuit of optimal health and vitality, men face unique nutritional needs that must be addressed to...

5 Best Adaptogens for Men: Enhancing Health and Vitality

1. Introduction to Adaptogens & Their Benefits: Define Adaptogens: Adaptogens are natural substances that help the body adapt to...

4 Types of Insulin: A Comprehensive Guide

Introduction: The Role of Insulin in Diabetes Management Insulin, a hormone produced by the pancreas, plays a crucial role...