Thursday, 1 April 2021
Department of Finance
73. To ask the Minister for Finance the extent to which he expects, along with his EU colleagues, to design a benign lending system to assist economic recovery and job retention in the aftermath of Covid-19; and if he will make a statement on the matter. [17652/21]
As the Deputy will be aware, on 21stJuly 2020, Heads of State and Government reached agreement on the €1.074 trillion Post-2020 Multiannual Financial Framework (MFF) and €750 billion recovery plan “Next Generation EU” (NGEU), totalling €1.82 trillion. The centrepiece of the NGEU is the Recovery and Resilience Facility, made up of €312.5 billion in grants and €360 billion in loans.
In order to avail of funding under the grants element of the Recovery and Resilience Facility, all Member States must submit a National Recovery and Resilience Plan by 30 April 2021.
Member States may also seek a loan under the Recovery and Resilience Facility, however, details on how the loan facility will operate are not available yet.