Ireland is to receive its fourth payment of €249 million under the EU’s Recovery and Resilience Facility (RRF).
The RRF is the main pillar of the European recovery plan, NextGenerationEU, designed to combat the economic and social effects of the COVID-19 pandemic and make the European economy more resistant to future shocks. It entered into force on 19 February 2021 and finances reforms and investments in EU Member States made from the start of the pandemic in February 2020 until 31 August 2026.
Ireland’s RRF Allocation is €1.15 billion. Payments under the RRF are performance-based, meaning that the Commission only pays out the amounts to each country when they have achieved the agreed milestones and targets towards completing the reforms and investments included in their plan. Ireland has already received its first three payments under the Facility based on the successful implementation by Ireland of the investments and reforms as set out in its National Recovery and Resilience Plan (NRRP).
The plan covers the priorities of Advancing the Green Transition, Accelerating and Expanding Digital Reforms and Transformation, Social and Economic Recovery and Job Creation, and REPowerEU.
The fourth payment request relates to 8 milestones and targets and includes investments such as construction of an extended platform at Cork’s Kent station to enable future electrification in Cork commuter rail; construction of a Government data centre; e-Health projects that support the digitalisation of the Irish healthcare system; Solas’ Recovery Skills Response Programme (e.g. Green Skills Action Programme and the Skills to Compete Initiative) to support the reskilling and upskilling of workers; and Technological Universities Transformation Fund to build capacity in education and training in technological universities.
In addition, Ireland’s fourth payment request includes a reform in offshore renewable electricity to accelerate the uptake of offshore renewable energy sources.
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