Italy says will hit all 2022 targets for EU post-pandemic funds

Italy is certain of achieving all targets this year in order to receive financing from the European Union’s post-pandemic rehabilitation fund, Economy Minister Giancarlo Giorgetti said on Friday (2 December)

So far, the government has secured nearly €67 billion out of approximately €200bn in EU funds due by 2026.

It can still get €19bn at the end this year if it meets the 55 milestones and targets set for 2022's second half. However, some ministers warn that it may be difficult to meet all reform deadlines.

They stated that skyrocketing raw materials costs are causing delays in multiple EU-funded projects using post-COVID funds.

Giorgetti said: "These days, we are working hard for the 55 targets to the second half 2022, in order to be able submit the third payment request (to Brussels) by December 31," during an event held in Rome.

Giorgetti said: "We are already on track and will reach this goal,"

On Thursday (1 December), the EU's Economy Commissioner Paolo Gentiloni urged Rome to adhere to the Recovery Fund deadlines.

Giorgetti, a testimony on Rome's 2023 budget, said that Italy has allocated €12bn to help public construction companies cope with higher costs.

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