Business News

EU Commission’s Positive Assessment of Ireland’s National Recovery and Resilience Plan

The Minister for Public Expenditure & Reform, Michael McGrath TD, welcomed the European Commission’s positive assessment of Ireland’s National Recovery and Resilience Plan, which will be funded by the EU’s Recovery and Resilience Facility.

On Friday, Commission President Ursula von der Leyen travelled to Dublin along with Commissioner Mairead McGuinness to present the assessment to the Taoiseach, Minister McGrath and Finance Minister Paschal Donohoe at an event in TU Dublin in Grangegorman.

The European Union’s NextGenerationEU recovery instrument, along with the Union’s trillion Euro budget for the next seven years, is central to the Union’s response to the global pandemic. 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, with Ireland in line to receive almost a billion Euro in grants over the lifetime of the Facility.

In order to access this funding, Ireland has developed the National Recovery & Resilience Plan for approval by the European Union. The Plan, which has a total value of €990 million, sets out the reforms and investments to be supported by the Facility.

Speaking at TU Dublin in Grangegorman today, the Taoiseach, Micheál Martin said, “I welcome the positive endorsement of Ireland’s National Recovery and Resilience Plan, an ambitious recovery package for the European Union. The plan is focussed on three priorities of advancing the Green Transition, accelerating and expanding digital reforms and transformation and supporting social and economic recovery and Job Creation.”

“Ensuring our people have the skills they need for the jobs of the future is a vital part of this renewal. Ireland’s National Recovery and Resilience Plan will contribute to a sustainable, equitable and digital recovery from the pandemic.”

Commenting on the positive assessment, Minister McGrath said, “this marks an important step along the road to accessing EU funding under NextGenerationEU as well as along the road to recovery. I was delighted to be in TU Dublin today to meet President von der Leyen and Commissioner McGuinness to see the excellent facilities that are being developed there that will benefit from EU funding.”

“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. Next Generation EU marks a key element of Europe’s recovery from COVID-19 and will enable us to move beyond the pandemic and rebuild the European economy. For Ireland, a successful open and global economy at the heart of the European Union, that is key.”

“The National Recovery and Resilience Plan is well aligned with both the Government’s Economic Recovery Plan and the review of the National Development Plan that is currently underway. It has a particular focus on green and digital transition and social and economic recovery”.

Welcoming the visit of President Van Der Leyen and the Commission’s positive analysis of Ireland’s Recovery and Resilience plan, Minister Donohoe said, “I warmly welcome President Van Der Leyen’s visit to Dublin to deliver the Commission’s positive assessment of Ireland’s National Recovery and Resilience Plan, which will start the approval process by the Council of the European Union.”

“This is a significant investment on behalf of the EU in our futures. The overall objective of our plan is to contribute to a sustainable, equitable, green and digital recovery effort, in a manner that complements and supports the Government’s broader recovery efforts.”

“With the vaccination program continuing to make strong progress, we are putting in place the necessary elements to ensure we deliver not just a recovery from the economic and social damage of Covid-19, but also the green and digital transitions we need to deliver sustainable prosperity into the future.”

Related Posts