The Minister for Public Expenditure & Reform, Michael McGrath TD, is seeking views on the development of the National Recovery and Resilience Plan (NRRP) that will enable Ireland to access funding under the EU’s Recovery and Resilience Facility (RRF).
Ireland is expected to receive €853 million in grants under the Facility in 2021 and 2022. A further set of grants is to be allocated in 2023, taking into account economic developments between now and then.
Commenting on the Plan, Minister McGrath said: "In the past, the European Union has been criticised for being too slow in responding to economic challenges. Following the onset of Covid-19, I think it can be acknowledged that the European Central Bank has taken decisive action to limit the cost of public borrowing. In addition, a much stronger fiscal response has been put in place and the Recovery and Resilience Facility (RRF) lies at the heart of the European Union’s response to the COVID-19 pandemic.
"The aim of the Facility is to mitigate the economic and social impact of the pandemic and make European economies and societies more sustainable, resilient and better prepared for the challenges and opportunities of the green and digital transitions."
In order to access this funding, Ireland must develop a National Recovery and Resilience Plan for approval by the European Union. The Plan will set out the reforms and investments to be supported by the Facility and is due to be submitted to the European Commission no later than 30 April 2021. In leading the preparation of this Plan, my department is working closely with a number of other government departments as part of this process, and has invited submissions from all Departments.
The reforms and investments included in the Plan must seek to address challenges identified in the relevant Country Specific Recommendations (CSRs) received by Ireland in 2019 and 2020, which arise as part of the European Semester process. For 2021, Ireland’s National Reform Programme will be integrated into our National Recovery and Resilience Plan.
It is vital that the NRRP strike the right balance between investment and reforms. There will be a particular focus on green and digital transition, as well as supporting economic recovery and job creation.
A public consultation process has now commenced and a consultation document has been published on gov.ie. The consultation process will run until the 22nd of February 2021.
Minister McGrath urged members of the Public to take part in the consultation process: "I am keen to hear views from a wide range of stakeholders as we develop this important Plan as part of our recovery from the pandemic".
Claire Godkin - Press Officer, Department of Public Expenditure and Reform - 085 806 3969