Italy has met targets for next EU recovery funds, Draghi says

Italian Prime Minister Mario Draghi leaves after a press conference
Italian Prime Minister Mario Draghi leaves after a press conference . Photo: Yoan VALAT / POOL / AFP
Italy has ticked all the necessary boxes to receive the next instalment of EU recovery funds from Brussels, Prime Minister Mario Draghi said on Wednesday.

Rome “has achieved all 51 targets” needed to qualify for the next tranche of nearly 200 billion euros ($177 billion) allocated to Italy as part of the EU’s post-virus fund, he said at a press conference.

Brussels has demanded reforms in return for the grants and loans.

Draghi, who has been driving such reforms through parliament in record time, said Rome intended to “radically reform the economy and stimulate productivity, simplify bureaucracy and encourage innovation”.

Rome received its first check in August for 24.9 billion euros from the European Commission — 13 percent of the total funds expected from Brussels over six years.

Reforms demanded by the European Commission and adopted by Italy include an overhaul of the justice system, one of the least efficient in Europe, and a reform aimed at regularizing real estate.

Member comments

The Local is not responsible for content posted by users.

  1. Do you know what the 51 targets are that have been met by the government regarding the funds from the E U
    Thanks Bernadette

Become a Member to leave a comment.Or login here.