Today, the Commission paid 145.1 million euros to Belgium and 585.1 million euros to Croatia in the form of pre-financing, 20.9 million euros to Cyprus, 25.4 million euros to Finland, 158.7 million euros to Greece, 551.2 million euros to Italy, 26 .9 million euros to Latvia and 288 million euros to Romania in the form of grants and 340 million euros to Spain in the form of pre-financing loans linked to the resources of the REPowerEU plan under the Recovery and Resilience Mechanism.

These pre-financing payments will help trigger the implementation of the key investment and reform measures outlined in each chapter of the REPowerEU plan. This will accelerate the achievement of the goals of the REPowerEU plan in terms of energy savings, clean energy production and diversification of energy supply in order to stop Europe's dependence on Russian fossil fuels in view of the Russian invasion of Ukraine.

Today's payments came after the Council approved the countries' revised plans, which include a chapter on the REPowerEU plan, and after financial agreements were signed.

Pre-financing payments, paid in one or two steps, amount to a maximum of 20% of the additional funds requested to finance each country's REPowerEU plan chapter. In case of payment of pre-financing in two steps, the second part is paid within 12 months from the payment of the first part.

 The Council approved all 23 chapters of the REPowerEU plan submitted so far.

Source: European commission