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Italy Successfully Unlocks Fourth Tranche of National Recovery and Resilience Plan Funding

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Olalekan Adigun
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Italy Successfully Unlocks Fourth Tranche of National Recovery and Resilience Plan Funding

Italy has marked a significant milestone in executing its National Recovery and Resilience Plan (NRRP), standing out as the only European Union (EU) member state to unlock the fourth tranche of funding, worth 16.5 billion euros. The announcement of the European Commission's approval was made by Italian Prime Minister Giorgia Meloni, affirming that Italy has successfully met all 28 objectives outlined in the NRRP.

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Progress Across Sectors

Highlighting the country's progress, Meloni pointed towards advancements in various sectors. These include social inclusion, public procurement, justice reforms, and public administration. The major investments of this tranche are directed towards digitalization, encapsulating migration of local public administration data to the cloud.

Investments in Space and Green Energy

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Furthermore, this tranche also significantly paves the way for advancements in the space industry, green hydrogen, transportation, and research. Additional attention has been drawn towards the education and social policies sectors. The disbursement of the 16.5 billion euros is scheduled for the end of the year, which will escalate Italy's total NRRP funds received to roughly 102 billion euros, covering more than half of the entire plan.

European Commission's Acknowledgement

The European Commission has acknowledged the Italian government's successful implementation of the NRRP. Ursula von der Leyen, President of the European Commission, lauded Italy for its significant reforms and investments. This positive outlook on Italy's conduct has been recognized and echoed by other government officials, displaying the government's dedication and proficiency in accomplishing the NRRP's objectives.

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