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European Commission gives Germany 2.25 billion euros in financial assistance

Europe / Business and Finance

This is the first payment under the program totaling 25.6 billion euros, which will be used to decarbonize the German economy, digitalize public services and modernize the healthcare system.

European Commission gives Germany 2.25 billion euros in financial assistance

The European Commission today gave Germany 2.25 billion euros in pre-financing, which is equivalent to 9% of the country's financial allocation under the Recovery and Resilience Fund (RRF). This is in line with the amount of pre-funding requested by Germany in its recovery plan from the coronavirus pandemic.

"The advance payment will help start the implementation of the most important investment and reform measures outlined in the plan for the recovery and resilience of Germany," - said the European Commission.

For economic recovery, Germany should receive a total of 25.6 billion euros, entirely consisting of grants.

The allocated money will be used, among other things, to ensure Germany's ecological transition to a "green" economy. € 1.5 billion will be invested in clean hydrogen to decarbonize the German economy, and an additional € 2.5 billion will be spent to help Germans acquire over 800,000 decarbonized cars.

Under the German plan, € 3 billion will be allocated to make more than 215 public services digitally accessible, and € 2.25 billion will be allocated to large-scale cross-border European initiatives in next-generation microelectronics and cloud infrastructures.

Another € 3 billion will be spent on modernizing hospitals to improve their digital infrastructure, emergency care, telemedicine, robotics, information technology and cybersecurity capabilities.

The plan also includes a joint program at the national and regional levels to address investment problems, reduce administrative planning and approval procedures, standardize requirements for requests for financial subsidies, and accelerate housing construction.

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