EU to Allow Inflation Tweaks to National Recovery Fund Plans
- Countries will need to make requests on case-by-case basis
- Italy leaders have said adjustments needed in deadlines, costs
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The European Commission will allow member states to revise their plans to access its €800 billion ($845 billion) pandemic recovery fund in order to adapt to soaring inflation, according to an EU official.
Countries will need to plead their cases individually, the person said, asking not to be named because the discussions aren’t public. Each country will be able to make requests on a case-by-case basis and national governments have to demonstrate how the rise in input costs for particular projects makes targets unattainable.