Commission provides €5.1 billion in pre-financing to France
The European Commission has disbursed €5.1 billion in pre-financing to France. This payment will help to kick-start the implementation of the investment and reform measures outlined in France’s Recovery and Resilience Plan (RRP).
The Commission will authorize further disbursements based on the implementation of the investments and reforms outlined in France’s RRP. The country is set to receive €39.4 billion in total, fully consisting of grants.
As part of NextGenerationEU, the Recovery and Resilience Facility (RRF) will provide €723.8 billion to support investments and reforms across Member States. The French plan is part of the unprecedented EU response to emerge stronger from the COVID-19 crisis, fostering the green and digital transitions and strengthening resilience and cohesion.
The RRF in France finances investments and reforms that are expected to have a deeply transformative effect on France’s economy and society. These projects are focused on:
Securing the green transition: The RRF invests €5.8 billion for the renovation of buildings, financing a large-scale renovation program to increase the energy efficiency of buildings. The RRF also invests in decarbonised hydrogen, with €1.9 billion for the development of value chains for decarbonised hydrogen.
Supporting the digital transition: The RRF supports the digitalisation of companies with €385 million, by helping businesses make the best use of digital technologies. The RRF also supports the digitalisation of public administration, improving the efficiency of the public administration and the quality of the working environment of public officials with €500 million.
Reinforcing economic and social resilience: The RRF finances the modernisation of the health system with €2.5 billion for renovating hospitals and healthcare facilities, building outpatient facilities, and modernising medical infrastructure and equipment. The RRF also supports jobs and training for young people, investing €4.6 billion in training opportunities in higher education and targeted hiring subsidies for youth. The RRF also supports reforms to improve the quality and efficiency of public expenditure.
Image © European Commission, 2021