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NextGenerationEU: European Commission disburses €271 million in pre-financing to Finland

The European Commission has disbursed €271 million to Finland in pre-financing under the Recovery and Resilience Facility (RRF). This payment is equivalent to 13% of the country financial allocation under the RRF. This pre-financing payment will help kick-start the implementation of the crucial investment and reform measures outlined in Finland’s recovery and resilience plan. The Commission will authorize further disbursements based on the implementation of the investments and reforms outlined in Finland’s recovery and resilience plans. The country is set to receive €2.1 billion in total, fully consisting of grants, over the lifetime of its plan. Today’s disbursement follows the recent successful implementation of the first borrowing operations under NextGenerationEU. Since June 2021, the Commission has raised €71bn for NextGenerationEU via long-term EU-Bonds – €12bn of which through the first-ever NextGenerationEU green bond issuance. The RRF is at the heart of NextGenerationEU which will provide €800bn, in current prices, to support investments and reforms across member states. The Finnish plan is part of the unprecedented EU response to emerge stronger from the COVID-19 crisis, fostering the green and digital transitions and strengthening resilience and cohesion in our societies. A press release is available online.

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