BRUSSELS: Some European Union governments will miss the April 30 deadline to submit their recovery plans to the European Commission, its Vice -President Valdis Dombrovskis (pictured) said, but they are still likely to submit the plans within a few weeks afterwards.
The delay in the submission of some of the national plans, which spell out how each government wants to spend its share of the EU’s 750 billion euro joint borrowing scheme, will not delay the scheme as a whole, Dombrovskis said.
“Some Member States are nearly there and submitting their plans by the end of April is achievable. For others, it looks more difficult. Finalisation will require somewhat more work for a couple of more weeks,” Dombrovskis said.
The 27 national plans are blueprints for spending grants and loans that each EU country will get from the unprecedented joint borrowing by the European Commission to rebuild economies greener and more digital after the Covid-19 pandemic.
To get the money, each country has to earmark 37 per cent of the funds to reduce CO2 emissions and 20 per cent to make the economy better prepared for the digital age through investment and reforms that will get piecemeal financing from the EU until 2026. — Reuters
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