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Croatia is the most successful in implementing the national recovery and resilience plan

by AI | 17.Jul 2024 | Europe in brief AI

Croatia has so far withdrawn more than 4.5 billion euros from the Next Generation EU instrument, making it the most successful member in withdrawing funds intended for recovery from the consequences of the pandemic.

Zagreb, 17.07.2024 - Government session of the Republic of Croatia. In the photo, Andrej Plenković. photo HINA/ Edvard ŠUŠAK/

ZAGREB – The European Commission has approved the disbursement of the fifth tranche of funds from the Recovery and Resilience Mechanism, and this Friday Croatia will receive a payment of 822 million euros, Prime Minister Andrej Plenković said at a government session on Wednesday.

With this, as he stated, Croatia will reach a total of more than four and a half billion euros from the EU Next Generation instrument.

“After this fifth tranche, Croatia is the most successful country in the European Union in the implementation of the national recovery and resilience plan. This demonstrates that the reforms and indicators that we set for ourselves a few years ago, we are able to fulfill on time and secure financing for numerous projects,” Plenković said.

He added that so far it is about 157 reform investments and indicators that have been fulfilled in full.

He reminded that the total allocation amount for the national recovery and resilience plan for Croatia is slightly more than ten billion euros.

He stated that with the new payment, Croatia will be in surplus by more than 16 billion euros compared to what it has paid into the European budget in the first 11 years of EU membership.

The Recovery and Resilience Mechanism is a temporary instrument and the most important element of the EU NextGenerationEU plan.

With the help of this instrument, the Commission raises funds by borrowing on capital markets (issuing bonds on behalf of the EU). The funds are then made available to member states for the implementation of reforms and investments, making their economies and societies more sustainable, resilient, and ready for the green and digital transition, in line with EU priorities. (July 17, 2024)

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