Belgium might receive $7.1bln from EU recovery fund

Moscow, Jun 23 (Agency) The European Commission on Wednesday estimated that Belgium may receive nearly 6 billion euros ($7.1 billion) in grants from the bloc-wide fund designated to support member states during the coronavirus crisis. “The European Commission has today adopted a positive assessment of Belgium’s recovery and resilience plan. This is an important step towards the EU disbursing €5.9 billion in grants under the Recovery and Resilience Facility (RRF),” a statement said.

The RRF was established to provide up to 672.5 billion euros to support reforms and projects in EU member states post-pandemic. Out of the total amount, 312.5 billion euros will be distributed in grants and 360 billion euros in loans. Before allocating the funds, the commission reviews recovery plans presented by member states based on country-specific recommendations and assesses whether they dedicate at least 37% of expenditure to climate objectives, and 20% — to the digital transition. According to the statement, Belgium’s plan earmarks 50% of the total allocation for climate investments, and 27% for digital transition. The country also mulls allocating 1 billion euros for the renovation of infrastructure. The EU council has four weeks to decide on the commission’s proposal.