EU-wide/Brussels – The Restoration and Resilience Facility (RRF) of the European Union (EU), launched in 2021, was meant to spice up the economic system in EU member states after the coronavirus pandemic and promote vital investments and reforms for the long run. Nonetheless, there are important delays in implementation, criticizes the European Court docket of Auditors (ECA), based mostly in Luxembourg, in a report printed on Monday. The objectives of the Restoration Fund would thus be in danger.
The RRF’s time period ends in August 2026. Till then, EU states can obtain cash from the fund, however in return, they have to implement the reforms and funding tasks agreed upon prematurely with the European Fee. By mid-2023, solely lower than a 3rd of the funds from the Restoration Fund had been utilized by EU nations, and fewer than 30 p.c of the milestones had been reached, in keeping with the auditors. An identical state of affairs exists in Austria: By the tip of 2023, the nation had utilized for under 23 p.c of the funds earmarked for the Alpine republic and had met solely 44 of the whole 171 milestones and targets.
“It’s of utmost significance that the RRF funds are utilized in a well timed method. This may keep away from bottlenecks within the implementation of measures in the direction of the tip of the power’s time period, which in flip reduces the chance of inefficient and flawed expenditures,” mentioned Ivana Maletić, the member of the Court docket of Auditors liable for the audit, in a press launch.
The explanations for the delay differ from nation to nation. These embrace “inflation or provide shortages, uncertainties in environmental rules, and inadequate administrative capacities.” Each the Fee and the Member States have in the meantime taken measures to handle the problem, “however it’s nonetheless too early to evaluate whether or not they may have a optimistic influence,” the report says. (02.09.2024)
