EU Loans to Ukraine Reach €4.4bn

EU Ukraine

The European Commission, on behalf of the EU, has disbursed €600 million in macro-financial assistance (MFA) to Ukraine. This is the second and final tranche under Ukraine’s current MFA programme following the first €600 million disbursement in December 2020. With this disbursement, the outstanding amount of loans to Ukraine under its multiple MFA programmes reaches…

MEPs Call for Transparency for Hungarian and Polish Recovery Plans

Hungary Recovery Plan

In a debate with Commissioner Gentiloni on the Hungarian and Polish recovery plans, MEPs called for more transparency to make sure funds are properly allocated. Economy Commissioner Gentiloni updated MEPs on Wednesday, saying that currently 22 of the 25 submit national recovery plans have been approved. The Bulgarian and Dutch plans have not yet been…

Latvia’s Recovery and Resilience Plan

The European Commission has disbursed €237 million to Latvia in pre-financing, equivalent to 13% of the country’s financial contribution as established in the Council Implementing Decision. The pre-financing payment will help to kick-start the implementation of the crucial investment and reform measures outlined in Latvia’s recovery and resilience plan. The Commission will authorise further disbursements…

Croatia Prepares for Membership of the Euro Zone

Croatia National Bank

The European Commission and euro area Member States have signed a Memorandum of Understanding (MoU) with Croatia outlining the practical steps that will allow the country to begin producing euro coins when it receives the go ahead to join the euro area. This represents an important milestone in Croatia’s efforts to join the euro area….

Commission Grants €24.9 billion to Italy under NextGenerationEU

Next Generation EU

The European Commission has disbursed €24.9 billion to Italy in pre-financing, equivalent to 13% of the country’s grant and loan allocation for the Recovery and Resilience Facility (RRF) under NextGenerationEU.  Italy is one of the first countries receiving a pre-financing payment under the RRF. The pre-financing will help to kick-start the implementation of the crucial…

Czech Recovery and Resilience Plan

The European Commission has adopted a positive assessment of Czechia’s recovery and resilience plan. This is an important step towards the EU disbursing €7 billion in grants under the Recovery and Resilience Facility (RRF). This financing will support the implementation of the crucial investment and reform measures outlined in Czechia’s recovery and resilience plan. It…

Stumbling to Another Crisis?

The EU is urged to avoid another crisis in the wake of the pandemic Markus Ferber MEP said, “We have to be very careful that the current frenzy of Corona spending does not lead us directly into the next debt crisis.” “Therefore, the European Commission urgently needs to establish when and under what conditions the application…

Covid’s Economic Hit

The coronavirus pandemic represents a very large shock for the global and EU economies, with very severe economic and social consequences. Economic activity in Europe suffered a severe shock in the first half of the year and rebounded strongly in the third quarter as containment measures were gradually lifted.  However, the resurgence of the pandemic…

Health Technology Research

The Commission has awarded some €508 million in grants to 75 projects to tackle cancer, brain-related diseases, infectious diseases, complex chronic conditions, antimicrobial resistance and other important areas of health research.  These projects are to receive money following the official signatures of grant agreements in the coming weeks.  They were short-listed after evaluation and will…

Vestager Appeals Court Decision on Apple’s Tax Bill

EU competition Commissioner Margrethe Vestager has decided to appeal the July EU General Court ruling annulling her 2016 decision ordering Ireland to recover €13 billion in state aid paid to Apple. Pedro Marques, S&D spokesperson on tax matters, commented: “We applaud Vestager for her willingness to push for more fairness in corporate taxation. We hope she…