Cormac Devlin (Dún Laoghaire, Fianna Fail) | Oireachtas source

I am unsure whether Deputy Christopher O'Sullivan is above me. If he comes in I am happy to share my time with him.

I welcome the opportunity to discuss and comment on the national recovery and resilience plan, NRRP, presented to the European Commission. With the EU-wide investment of €915 billion the NRRP will be an important component in reigniting the European economy as we recover from Covid-19 and Brexit, as the Minister has said.

The recovery and resilience plan will enable us to move beyond the pandemic and invest in the future in key areas, such as climate change and digital transition. The plan will underpin the Government's national economic recovery plan launched yesterday and will continue to support the much-needed Covid-19 business and job supports.

The overall objective of the national recovery and resilience plan is to contribute to the sustainable, equitable, green and digital recovery effort. It complements the Government's broader recovery plan. The recovery and resilience facility is the largest component of Next Generation EU, the European Union's €750 billion response to the global pandemic. The aim of Next Generation EU 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 sustainable and that has greater digital interaction. 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 our economic progress and developments between now and then.

I particularly welcome the provision of a low-cost residential retrofit loan scheme to support the retrofitting of homes. That is included in the programme for Government. I welcome the investment in public transport and the support for schools information technology and retraining young people impacted by Covid-19. I look forward to witnessing the roll out of the 16 projects mentioned by the Minister under the plan. I thank the Minister and his officials for finalising and submitting the plan to the EU.

I am unsure whether my colleague, Deputy O'Sullivan, is here as of yet.

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