HELSINKI (Chatnewstv.com) — Finland’s Ministry of Finance on Tuesday filed its third request for funding under the European Union’s Recovery and Resilience Plan (RRP), believing it has met key reform and investment benchmarks.
The request, which totals $283 million (about 260 million euros), is the third of six planned installments and represents roughly 15% of the total funding Finland is due to receive from the EU’s Recovery and Resilience Facility (RRF).
After deducting previously received advance payments and administrative costs, Finland expects to receive a net payment of approximately $245 million.
“Finland believes it has achieved further milestones in its Recovery and Resilience Plan,” the Ministry of Finance said in a statement accompanying the submission.
The payment request is based on 22 specific milestones outlined in Finland’s RRP. These achievements cover a wide range of policy and investment areas, including:
Investments in energy technology and the electrification and decarbonization of industrial processes.
The passage of legislative reforms, such as updates to the Nature Conservation Act, the Act on Unemployment Security, and the Aliens Act.
Projects focused on reuse and recycling and enhancing nutrient recycling.
Development of digital services, including the Residential and Commercial Property Information System and new digital functions for employment services.
The European Commission now has two months to assess the request and publish its preliminary findings on whether the milestones have been met. EU Member States will then vote on approving the payment through a comitology procedure.
Finland has previously received advance payments totaling approximately $296 million. It received a net payment of $202 million after the first approved request and $378 million after the second.
The RRP is part of Finland’s Sustainable Growth Programme, which is primarily funded through the EU’s post-pandemic recovery instrument, NextGenerationEU.
