The Dutch national recovery and resilience plan received a favorable evaluation from the European Commission, which was welcomed by the economy and finance ministries. The Council approved this strategy today and enacted its implementing decision.
The national recovery and resilience plans were evaluated by the European Commission before the Council made its decision. These plans must adhere to the country-specific suggestions for 2019 and 2020 and represent the EU’s overarching goals of building a greener, more digital, and more competitive economy. Some of the country-specific 2022 suggestions that were approved by the Council in July 2022 are also addressed in the Dutch plan.
The Netherlands will be allowed to utilize the facility’s finances up to a total allocation of € 4.7 billion in grants when the decision has been formally adopted. The Netherlands will be able to support its economic recovery from the COVID-19 epidemic and finance the ecological and digital transformations thanks to this funding.
Plan for the Netherlands
The Dutch plan spends 48% of its overall budget on initiatives that promote climate goals, including financial commitments that are anticipated to significantly advance the decarbonization process.
It consists of reforms and investments aimed at accelerating the use of renewable energy sources, as well as investments in sustainable transportation and nature preservation. A number of initiatives in this area also support the REPowerEU goals to swiftly reduce reliance on Russian fossil fuels and advance the green transition, as well as the pertinent 2022 country-specific energy suggestion. These include spending on energy-efficient homes and offshore wind projects, as well as a new energy law that is anticipated to make it easier to invest in the electrical system and for customers to sell their own renewable energy.
In the Netherlands’ strategy, initiatives to facilitate the shift to digital are funded with 26% of the overall budget. This involves financial commitments to quantum technologies, AI, digital governance, and education. Reforms to information management are also included in the plan in order to establish a more open and transparent public administration.
Once the member state meets the benchmarks and objectives for investments and reforms included in the recovery and resilience plan, the Commission will provide payments.
The EU’s coordinated reaction to the difficulties the epidemic has presented for the European economy as well as to get it ready for the green and digital transitions is called NextGenerationEU, which includes the Recovery and Resilience Facility. Up to €672.5 billion would be made available to assist the investments and reforms envisaged in the recovery and resilience plans of the member states.