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European Commission disburses €822.7 million in prefinancing to Slovakia

Christian Fernsby |
The European Commission has disbursed €822.7 million to Slovakia in a prefinancing payment under the Recovery and Resilience Facility (RRF).

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This is equivalent to 13% of the country's total financial allocation under the RRF. The pre-financing payment will help to kick-start the implementation of the crucial investment and reform measures outlined in Slovakia's recovery and resilience plan.

Slovakia is set to receive a total of €6.3 billion in grants under the RRF. The Commission will authorise further disbursements based on the implementation of the investments and reforms outlined in Slovakia's recovery and resilience plan.

The 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, complemented by short-term EU-Bills, to fund the first planned disbursements to Member States under NextGenerationEU.

The RRF is at the heart of NextGenerationEU which will provide €800 billion (in current prices) to support investments and reforms across the EU.

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