Press release
Ireland presents €1 billion National Recovery and Resilience Plan to Europe
From Department of Public Expenditure, NDP Delivery and Reform
Published on
Last updated on
From Department of Public Expenditure, NDP Delivery and Reform
Published on
Last updated on
The Minister for Public Expenditure & Reform, Michael McGrath TD and the Minister for Finance, Paschal Donohoe TD, today (Friday), announced that the Government has approved Ireland’s National Recovery and Resilience Plan for submission to the European Commission.
The draft Plan, involving projects with a value of almost €1 billion, will enable Ireland to access funding under the EU's Recovery and Resilience Facility which forms the centrepiece of NextGenerationEU, the Union’s response to the global pandemic. Ireland is expected to receive approximately €915m in grants under the RRF for the period 2021-2022. A further set of grants is to be allocated in 2023.
Development of the draft Plan has taken place alongside development of the Economic Recovery Plan, with details of both plans to be announced by the Government next week.
The draft Plan includes measures aimed at:
advancing the green transition;
accelerating and expanding digital reforms and transformation; and
social and economic recovery and job creation
The draft Plan will now undergo a formal assessment by the European Commission before being submitted to the Council of the European Union.
Minister McGrath said:
"With an investment of €915 billion in the current round of RRF from the EU, the National Recovery and Resilience Plan marks a key milestone in our path to economic recovery from Covid-19. The Plan will enable us to move beyond the pandemic and to invest in the future in key areas such as climate change and a digital transition. It will also help us to mend some of the scarring impacts of the pandemic and help people get back to work.
"The plan closely aligns with both the forthcoming Economic Recovery Plan and the review of the National Development Plan that is currently underway. It will have a particular focus on green and digital transition and social and economic recovery.
"In a year that has seen us take on the twin challenges of Covid and Brexit, support from Europe is evidence of the solidarity that has been the hallmark of our EU membership over the last five decades. A lot of work has been undertaken behind the scenes to get to this point today. I want to take this opportunity to commend all those who have worked on the Plan and I look foward to engaging further with the European Commission as the Plan moves to the Council of Ministers for final authorisation in the months ahead."
Minister Donohoe said:
"The Recovery and Resilience Facility is the centrepiece of Europe’s response to the pandemic, a powerful symbol of solidarity and hope. It shows our joint determination to recover from this crisis in a way that delivers the jobs and growth our people need. It is also a powerful tool to deliver the green and digital transitions that are required to build a better tomorrow.
"We have worked hard to craft a National Recovery and Resilience plan that effectively aligns with the forthcoming Economic Recovery Plan and the ongoing review of the National Development Plan. But it is not just about our plan alone – we will all benefit from the shared and inclusive recovery these recovery plans will bring right across Europe."
ENDS
Notes for Editors
NextGenerationEU
The European Union’s €750 billion NextGenerationEU recovery instrument, along with the Union’s trillion Euro budget for the next seven years, is central to the EU’s response to the global pandemic.
The aim of NextGenerationEU is to help repair the immediate economic and social damage brought about by the pandemic and to prepare for a post-Covid Europe that is greener, more digital, more resilient and fit to face the future.
The Recovery and Resilience Facility (RRF) is the largest component of NextGenerationEU, making €672.5 billion available to Member States in the form of grants and loans.
The RRF and Ireland
Ireland is expected to receive €915 million in grants under the Facility in 2021 and 2022. A further set of grants is to be allocated in 2023, taking into account economic developments between now and then.