Italy has submitted a third request for payment of €19 billion in grants and loans under the Next Generation EU Recovery and Resilience Facility to the European Commission. Italy's third payment proposal includes 55 aims and targets for changes in competition, justice, education, undeclared employment, water management, cybersecurity, renewables, networks, trains, research, tourism, urban and social renewal, and more. €69 billion in grants and €122.6 billion in loans fund Italy's comprehensive recovery and resilience plan (RRP). Payments under the Recovery and Resilience Facility will be contingent to the execution of the investments and reforms indicated in Italy's Recovery and Resilience Plan. The Commission will review the request and report to the Council's Economic and Financial Committee on Italy's progress toward the milestones and goals needed for this payment.
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