Sunday, June 4, 2023

EU Commission approves Czech recovery plan of 7 billion euros By Reuters


© Reuters. FILE PHOTO: European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium May 5, 2021. REUTERS/Yves Herman

BRUSSELS (Reuters) – The European Commission approved on Wednesday the Czech Republic’s 7 billion euro plan to recover from the pandemic and transform the economy to become greener and more digitalised in coming years.

The scheme will be financed from EU grants until 2026. Once the plan is also approved by EU finance ministers, Czechia will get 910 million euros in pre-financing for projects foreseen under the plan.

More cash will be paid out on completion of agreed stages of the reforms and investment spelled out in the approved plan.

The Commission said Czechia planned to spend 42% of its money to reach climate-neutrality goals, including investment in renewable energy, modernisation of district heating, replacement of coal-fired boilers and improving the energy efficiency of residential and public buildings.

The plan also includes measures for nature protection and water management as well as investment in sustainable mobility.

Prague will also invest 22% of the total to make the economy more fit for the digital era, including investment in digital infrastructure, the digitalisation of public administration, including the areas of health, justice and the administration of construction permits.

The plan also includes measures to improve Czech citizens’ digital skills at all levels.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link


Please enter your comment!
Please enter your name here



Related Stories