Slovakia to get Recovery Plan money in autumn

While some EU countries received the first instalment of funds for implementing their national recovery and resilience plans this week, Slovakia will have to wait at least several more weeks for its first tranche amounting to some €800 million. The Financing Agreement is first subject to approval by the Slovak Government, which is not sitting at present and the next Cabinet session is scheduled for the second half of August. The payout of a financial allocation from the Recovery and Resilience Plan and detailed financial procedures in this connection were specified in the Financing Agreement that was approved at the EU level on July 23. Each member state has individual national legislative processes that govern procedures before this agreement is signed by the member state and the European Commission. The European Commission announced on Tuesday (August 3) that it has already paid almost €3 billion to Belgium, Luxembourg and Portugal as part of the pre-financing of their national recovery plans. Although Slovakia is not among the first countries in the EU to receive money from the recovery plan, this should slow down its implementation, explained National Implementation and Coordination Authority spokesperson Barbora Belovická.