The Recovery and Resilience Facility will make €672.5 billion in loans and grants available to support reforms and investments undertaken by Member States. The aim is to mitigate the economic and social impact of the coronavirus pandemic and make European economies and societies more sustainable, resilient and better prepared for the challenges and opportunities of the green and digital transitions.
European Commission President Ursula von der Leyen visited Zagreb today where she participated in a special session of government. During the government session Von der Leyen formally presented the commission's positive assessment of Croatia's recovery and resilience plan, valued at 6.3 billion Euros. Von der Leyen said that Croatia's plan is very ambitious, and added that it has the largest share of GDP when compared to other member states.
For his part Prime Minister Andrej Plenković noted that Croatia had not only been hit by the economic crisis caused by the coronavirus lockdowns and restrictive measures, but that it had also suffered two earthquakes in the past 16 months.
"Along with the effects of COVID, Croatia has also been hit by the devastating effects of two earthquakes. So, the damage incurred by COVID and the earthquakes are four times greater here. COVID has cost us 34 billion Kuna and 129 billion Kuna in damages from the two earthquakes," Plenković said.
Commission President Von der Leyen noted that the commission had taken all of the circumstances into account: "The crisis hit all of us, but as the preconditions were different, some member states were hit harder than others. And therefore, the allocation key does respect that and the investment here in Croatia is strong and very effective and therefore I'm deeply convinced that it is a wonderful opportunity now for Croatia indeed to narrow the gap and to move forward."
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