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The EC preliminarily approved the payment of 48 billion CZK to the Czech Republic from the recovery plan

by AI | 15.Nov 2024 | Europe in brief AI

The EC stated that the Czech Republic has so far met 63 of the 65 milestones linked to the disbursement of funds in the current application.

Wind turbines of the largest wind farm in the Czech Republic, Kryštofovy Hamry, located in the Ore Mountains, near the border with Germany. Photo: Tomas Tkacik / Zuma Press / ContactoPhoto

Prague/Brussels – The European Commission today provisionally approved further payment of money from the extraordinary recovery plan to the Czech Republic. The Czech Republic should receive 1.9 billion euros (approximately 48 billion crowns in conversion), mainly for projects related to the development of renewable energy and railway infrastructure, the EC stated on its website. According to a source from the commission quoted by the ČTK, the Czech Republic should receive the money by the end of the year. However, the Ministry of Industry and Trade (MIT) subsequently clarified that the payment of 41 billion crowns has been approved so far. The EC has withheld another 6.5 billion crowns because the Czech Republic has not yet approved some promised reforms.

The provisional approval of the payment of money is linked to the adoption of 17 reforms and the implementation of 28 investment actions. The milestones and goals met concern the promotion of the use of renewable energy sources, a new concept of freight transport, modernization of railway lines, or barrier-free access. The EC identified the development of renewable energy sources and railway infrastructure as key areas in the current payment of funds. According to a source from the EC, the Czech Republic received money, for example, for the development of insulation of public buildings as well as family and apartment houses or for the approval of rules for sharing electricity from renewable sources. Other funds are associated with projects for the electrification of railways.

The EC stated that the Czech Republic has so far fulfilled 63 of the 65 milestones linked to the payment of funds in the current request. The MIT specified in a press release that the approval of the comprehensive long-term care reform is missing, which is linked to the payment of 4.1 billion crowns. The second missing milestone is the amendment of the energy law, nicknamed Lex OZE III, which adjusts the rules for storing electricity and also for its production and consumption association and is currently under discussion in the House of Commons. After the approval of these reforms, the EC could decide on the payment of the remaining withheld funds next year. (November 15)