The European Commission has disbursed €126 million to Estonia and €41 million to Malta in pre-financing under the Recovery and Resilience Facility (RRF).
These payments are equivalent to 13% of each country’s grant allocation under the RRF. These pre-financing payments will help to kick-start the implementation of the crucial investment and reform measures outlined in each national recovery and resilience plan.
The Commission will authorise further disbursements based on the implementation of the investments and reforms outlined in the national recovery and resilience plans. Estonia is set to receive Estonia is set to receive €969.3 million and Malta €316.4 million over the lifetime of their plans. Today’s disbursements follow the recent successful implementation of the first borrowing operations under Next Generation EU.
Since June 2021, the Commission has raised €71 billion for NextGenerationEU via long-term EU-Bonds – €12 billion of which through the first ever NextGenerationEU green bond issuance. The RRF is at the heart of NextGenerationEU which will provide €800 billion, in current prices, to support investments and reforms across Member States.
The Estonian and Maltese plans are part of the unprecedented EU response to emerge stronger from the COVID-19 crisis, fostering the green and digital transitions and strengthening resilience and cohesion in our societies.