Commission disburses REPowerEU pre-financing payments to Hungary, Lithuania and Poland under the Recovery and Resilience Facility
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On 28 December 2023, the Commission disbursed €779.5 million to Hungary in loans, €109.8 million to Lithuania in loans, as well as €5 billion to Poland in loans and grants, as part of pre-financing relating to the REPowerEU funds under the Recovery and Resilience Facility (RRF).

These pre-financing payments will help to kick-start the implementation of the crucial investment and reform measures outlined in each REPowerEU chapter. This will accelerate the delivery on the REPowerEU Plan’s objectives to save energy, produce clean energy and diversify energy supplies, with a view to making Europe independent from Russian fossil fuels in light of Russia’s invasion of Ukraine.

Thursday’s disbursements follow the Council’s approval of these countries’ revised plans, which include a REPowerEU chapter, and the signature of financial agreements.

Pre-financing payments, paid out in either one or two steps, are equivalent to up to 20% of the additional funds requested to finance each country’s REPowerEU chapter. If the pre-financing is paid out in two steps, the second part is to be paid within 12 months following the disbursement of the first part.

Source European Commission – Jan 4, 24

Originally published at https://www.einpresswire.com/article/679091112/commission-disburses-repowereu-pre-financing-payments-to-hungary-lithuania-and-poland-under-the-recovery-and-resilience-facility