The Czech plan has the green light: EU finance ministers approved CZK 180 billion for it

On Monday, finance ministers of the European Union (EU) countries approved the Czech National Recovery Plan. Thanks to this, the Czech Republic could receive the first part of the CZK 180 billion as early as September.

In total, the Czech Republic can collect up to 13% of this amount this year in the pre-financing of projects, with the rest to be collected in coming years.

“I am thrilled to announce good news today. The Czech Republic and Ireland will soon be able to translate their plans for recovery and resilience (of their economies) into practice, ” Andrej Šircelj, Slovenian finance minister whose country currently holds the EU presidency, said after a videoconference.

Along with Ireland’s, the Czech plan joined the 16 investment strategies approved on Monday, under which EU countries will share the vast majority of the fund’s 750 billion euros (over 19 trillion crowns) between them.

According to the EU, the Czech Republic has met all the criteria for receiving advances for projects. Among the more than a dozen requirements is the obligation to devote at least 37 percent of the money to environmentally friendly projects and a fifth to digitalization.