Council adopts update to Finland’s national plan

The Council adopted an amending implementing decision as regards the recovery and resilience plan of Finland.

Finland’s plan has been amended to reflect the updated maximum financial contribution which the European Commission published on 30 June 2022 to take into account changes in real gross domestic product (GDP) over time.

According to the Commission, this modification put forward by Finland does not affect the relevance, effectiveness, efficiency and coherence of the Finnish recovery and resilience plan.

During 2023, it is expected that gradually each of the 27 member states will request implementing decisions concerning updates to their national recovery and resilience plans at least once, to access the new REPowerEU grants, to request available loans, or to take into account the updated RRF allocation.

Background

The Recovery and Resilience Facility is the EU’s programme of large-scale financial support in response to the challenges the pandemic has posed to the European economy. The facility’s €744 billion (in current prices) are used to support the reforms and investments outlined in the member states’ recovery and resilience plans.

Article 11(2) of the RRF regulation says that the maximum financial contribution for non-repayable financial support of each member state shall be updated by the Commission by 30 June 2022 on the basis of Eurostat outturn data on the change in real GDP growth over 2020 and the aggregate change in real GDP for the period 2020-2021.