ECOFIN gives green light to Italy's revised NRRP

(ANSA) - ROME, DEC 8 - The Economic and Financial Affairs Council (ECOFIN) on Friday gave its backing to Italy's revised national recovery and resilience plan (NRRP), sealing definitive approval by the European Union to the changes requested by the government of Premier Giorgia Meloni and the additional RepowerEu chapter.
    Italy was one of 13 member states to have their EU-funded post-Covid recovery plans approved by the meeting of EU finance ministers.
    "This is another great result for the Government that confirms the seriousness and effectiveness of the work done in recent months," said Meloni.
    "We intend to continue on this path, in the knowledge that the success of our NRRP is in the interest of the nation and its citizens," she added.
    Italy's revised plan is now worth 194.4 billion euro, of which 122.6 billion euro in loans and 71.8 billion euro in grants under the NextGenerationEU programme established by the European Union to help member states recover from the Covid-19 pandemic, with resources to be deployed in the period 2021-2026 period.
    The NRRP covers 66 reforms - seven more than the original plan, and 150 investments and includes in total 145 new or modified measures, including the interventions set out under the new separately funded REPowerEU chapter to reduce dependency on Russian fossil fuels. (ANSA).