Mairead Farrell (Galway West, Sinn Fein)
Link to this: Individually | In context | Oireachtas source

75. To ask the Minister for Public Expenditure and Reform the total quantum of Ireland's allocation as part of the recovery and resilience fund; the total amount drawn down to date; the date of the drawdown; the breakdown of same in terms of recipient Departments; and if he will make a statement on the matter. [59637/22]

Michael McGrath (Cork South Central, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

In July 2020, the European Council, made up of the Heads of State and Government of each EU Member State, adopted a historic €750 billion recovery package for Europe. This package, NextGenerationEU, is Europe’s shared response to the severe health and economic crisis caused by COVID-19.

Next Generation EU is an ambitious and common recovery package which will complement and support each country’s own national response to the crisis. At the heart of the NextGenerationEU lies the Recovery and Resilience Facility. The aim of the Facility is to address the economic and social impact of the pandemic and make European economies and societies more sustainable, resilient and better prepared for the challenges and opportunities of the green and digital transitions.

Ireland will receive approximately €915 million in grants from the Recovery and Resilience Facility. These grants will be used to support investments between now and mid-2026. In order to avail of grants from the Recovery and Resilience Facility, each Member States prepared a National Recovery and Resilience Plan. The overall objective of Ireland’s National Recovery and Resilience 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. Ireland’s Plan will do this through a set of 16 investments and 9 reform commitments.

Ireland’s National Recovery and Resilience Plan has been arranged under three distinct priorities:

- Priority 1: Advancing the Green Transition

- Priority 2: Accelerating and Expanding Digital Reforms and Transformation

- Priority 3: Social and Economic Recovery and Job Creation

Under each priority, there is a set of impactful and reinforcing investments and reforms which will be measurable and for which the Government will be responsible. The achievement of the milestones and targets for these investments and reforms, in line with the Regulation governing the Recovery and Resilience Facility, will see Ireland access its allocated resources from the Recovery and Resilience Facility.

The financial contribution from the Recovery and Resilience Facility will be paid to Ireland in 5 instalments in accordance with the Financial Agreement. Ireland will begin the process of submitting the first payment request to the Commission before the end of the year. Annual payment claims will follow this cycle up until 2026.