European Commission endorses €969.3 million recovery fund for Estonia

European Commission president Ursula von der Leyen announced an allocation of €969.3 million from the European Union’s recovery and resilience plan to Estonia on Tuesday, which should aid the country in fighting the coronavirus crisis and revitalizing the economy. The sum can end up being smaller since Estonia’s economy has recovered faster than expected.

“Our experience with the COVID-19 pandemic has shown how important a strong healthcare system is. I am proud that NextGenerationEU will help Estonia achieve that goal. The plan allows Estonia to digitalize its economy and society even more. Investments into energy efficiency and sustainable mobility will accelerate Estonia’s transition to a green economy,” von der Leyen said.

Therecovery and resilience planis the main NextGenerationEU measure, which will see allocations of up to €800 million to European countries to support investments and reforms.

According to the European Commission, decision was made while assessing if the proposed investments and reforms would support green and digital transitions, help solve problems and support growth potential, the creation of jobs and economic and social resilience.

The plan supports green and digital transitions in Estonia

The Estonian plan’s contribution to the green transition amounts to 42 percent of its total allocation of €969.3 million and is built on three pillars: green transition in enterprises, sustainable energy and energy efficiency, and sustainable transport.

Read more: ERR.EE

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *