In an encouraging development, the European Commission has recently given its endorsement to Slovakia’s payment request for €662 million in grants under the Recovery and Resilience Facility (RRF). This positive preliminary assessment signifies an important milestone for Slovakia, as it showcases their commitment and progress in implementing transformative reforms to aid in the country’s recovery and drive sustainable development.
Progress Made: Fulfillment of Milestones and Targets
Slovakia’s third payment request under the RRF was accompanied by comprehensive evidence, meticulously showcasing the satisfactory fulfillment of 21 milestones and six targets set out in the Council Implementing Decision for the third installment. These milestones and targets are crucial to achieving Slovakia’s objectives related to renewable energy, green and digital transition, education, research and development, as well as the establishment of Digital Innovation Hubs.
Payment Request and Recovery Plan Overview
On 25th September 2023, Slovakia submitted a payment request to the Commission, based on the successful accomplishment of the aforementioned milestones and targets. This request is part of Slovakia’s broader recovery and resilience plan, which encompasses a vast array of investment and reform initiatives distributed across 19 thematic components. The plan seeks to revitalize various sectors of the economy and society, and it will be financed with a total of €6.4 billion in grants.
Previous Disbursements and Current Progress
To date, Slovakia has already received a total of €1.9 billion in grants. This amount includes an initial sum of €823 million in pre-financing, disbursed on 13th October 2021, as well as an additional €399 million disbursed on 29th July 2022, subsequent to the positive assessment of the first payment request. Moreover, on 22nd March 2023, Slovakia received another disbursement of €709 million following the successful evaluation of their second payment request.
Next Steps and Disbursement Process
Having completed its preliminary assessment, the Commission has forwarded the findings, confirming Slovakia’s satisfactory fulfillment of milestones and targets associated with this payment request, to the Economic and Financial Committee (EFC) for further evaluation. The EFC’s opinion will play a critical role, guiding the Commission’s final decision on the disbursement of the financial contribution. This decision will be taken through a comitology committee. Once the Commission adopts the decision, the disbursement of funds will be authorized, paving the way for Slovakia to benefit from the granted amount.
Further Information and Resources
For a comprehensive understanding of this commendable progress, a full press release and a dedicated Q&A section have been published online by the European Commission. Additionally, more detailed information about Slovakia’s recovery and resilience plan can be accessed through the provided link, offering insights into the strategic investments and reforms being undertaken to bolster the country’s future.
Slovakia’s successful payment request, accompanied by the evidence of milestone achievements and target fulfillments, marks a significant step forward in the country’s recovery and resilience efforts. With the endorsement of the European Commission, Slovakia is poised to receive a substantial financial contribution that will fuel its ongoing transformation towards a sustainable future. This supports the EU’s collective endeavor to promote economic growth, environmental viability, and digital innovation across member states.
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