RIGA - The European Commission (EC) has reduced the number of targets and benchmarks under the Recovery and Resilience Facility by an average of 20 percent to ensure that Member States’ plans can be implemented by the facility’s deadline- the end of August this year, Valdis Dombrovskis, European Union (EU) Commissioner for Economy and Productivity, Implementation, and Simplification, told LETA.
The Commissioner explained that over the past year, the EC has been working with Member States to have them review unfeasible projects and redirect their funding to other sources - structural funds or the Cohesion Fund.
He said that the EC had offered the option of dividing larger ongoing projects-which might be difficult to complete by August-into phases, with one phase funded by the Recovery and Resilience Facility and the rest from other sources.
Dombrovskis emphasized that the main task at present is the practical implementation of the plan.
According to information on the EC website, taking into account legal deadlines and the temporary nature of the mechanism, Member States must meet all interim and target indicators by August 31, while the EC must make final payments by December 31.
The Recovery and Resilience Facility is a temporary instrument that is a central element of NextGenerationEU, the EU’s plan for a stronger and more resilient recovery from the COVID-19 pandemic crisis.
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