On Monday, European Commission spokeswoman Veerle Nuyts confirmed Italy has received the third instalment of NRRP European Union funding.
The disbursement of this €18.5 billion tranche marks a significant milestone in Italy’s plan implementation. Nuyts emphasised the transformative nature of the reforms and investments covered by this third payment.
Italy had initially requested the third tranche at the close of 2022. However, it was only approved for payment by the Commission in late July. This delay came after the Italian government restructured the NRRP, shifting some milestones to align with the measures covered by the fourth instalment, valued at €16.5 billion.
European Affairs Minister Raffaele Fitto highlighted the payment of the third instalment follows a positive assessment by the Commission, confirming Italy’s progress in achieving the 54 objectives and targets outlined in the Plan. This assessment was subsequently endorsed by EU Member States.
Focus on the Fourth Instalment of NRRP
With the third instalment secured, the focus now turns to the work on the fourth instalment. Proposed changes for measures tied to this next payment include incentives for energy efficiency, expanded childcare facilities, support for the space and film industries, and investments in sustainable transport.
Italy also introduced an additional milestone related to increasing student accommodation, originally tied to the third tranche. These proposed changes have received approval from both the European Commission and the European Council, enabling Italy to formally request payment of the fourth tranche.
Last month, Fitto announced the payment for the fourth instalment was anticipated to arrive by the end of the year, setting a forward-looking perspective for Italy’s ongoing recovery efforts.
