EU Unveils Conditions for Massive Recovery-Fund Payments
- European Commission outlines how allocated sums can be spent
- Most funds earmarked for digital transition, climate projects
An electric vehicle charging station street sign sits in Paris. The guidelines include investments ranging from high-speed broadband to electric-vehicle charging stations.
Photographer: Adrienne Surprenant/BloombergEuropean Union governments hoping to receive a slice of the hundreds of billions of euros in jointly raised recovery funds will need to put forward plans of specific reforms and commit to spend the cash on digital infrastructure projects and the transition to a low-carbon economy.
That’s according to set of guidelines published by the EU’s executive arm on Thursday, clarifying what kind of spending is eligible from the gigantic rescue package agreed between the bloc’s leaders over the summer. The list includes investments ranging from high-speed broadband to electric-vehicle charging stations, boosting digital skills and financing building renovations, as well as the funding of structural reforms recommended by the European Commission.