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NextGenerationEU: European Commission disburses €201 million in pre-financing to Denmark

The European Commission has today disbursed €201 million (1.5 billion kr.) to Denmark in pre-financing, equivalent to 13% of the country's financial allocation under the Recovery and Resilience Facility (RRF). The pre-financing payment will help to kick-start the implementation of the crucial investment and reform measures outlined in Denmark's recovery and resilience plan.

The Commission will authorise further disbursements based on the implementation of the investments and reforms outlined in Denmark's recovery and resilience plan. The country is set to receive €1.5 billion (11.5 billion kr.) in total, fully consisting of grants, over the lifetime of its plan.

Today's disbursement follows the recent successful implementation of the first borrowing operations under NextGenerationEU. By the end of the year, the Commission intends to raise up to a total of €80 billion in long-term funding, to be complemented by short-term EU-Bills, to fund the first planned disbursements to Member States under NextGenerationEU.  

Part of NextGenerationEU, the RRF will provide €723.8 billion (in current prices) to support investments and reforms across Member States. The Danish plan is part of the unprecedented EU response to emerge stronger from the COVID-19 crisis, fostering the green and digital transitions and strengthening resilience and cohesion in our societies.

Supporting transformative investments and reform projects

The RRF in Denmark finances investments and reforms that are expected to have a transformative effect on Denmark's economy and society. Here are some of these projects:

  • Securing the green transition: increasing the energy efficiency of buildings, providing premiums for the scrapping of old diesel cars, building new bicycle paths, infrastructure for electric bicycles and support to purchase green ferries.
  • Supporting the digital transition: rolling out very high-speed internet access in remaining uncovered rural areas of Denmark, supporting the digital investments of SMEs and further digitisation of the public administration.
  • Reinforcing economic and social resilience: initiatives related to fostering digital and R&D investment both in the private and public sectors, extending the availability of telemedicine, and boosting local jobs by supporting local sustainable agricultural production.

Click here for the full press release

 

Original article link: https://ec.europa.eu/commission/presscorner/detail/en/IP_21_4532

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