NRRP huge opportunity, but €150bn will need to be repaid

Published 1 year, 5 months ago

National Recovery and Resilience Plan (NRRP) Minister Raffaele Fitto said on Tuesday that the massive EU funded post-COVID NRRP was a great opportunity, but cautioned listeners that some €150 billion of it consisted of debt.

Fitto says that while the NRRP is a positive, the money must be carefully spent as future generations will have to pay the substantial debt. (Photo: ANSA)

The NRRP aims to make Italy ‘Greener’ and more modern.

The plan consists of 132 investments and 58 reforms.

They will be supported by €68.9 billion in grants and €122.6 billion in loans; 37.5 per cent of the plan will support climate objectives and 25.1 per cent of the plan will support the digital transition.

“The NRRP I think is an opportunity for Italy, it is an opportunity to work on in a serious way [but] I recall that altogether we are talking about more than €150 billion in debt, we are taking on debt,” Fitto, the Minister for European Affairs, the South, Cohesion Policies and the NRRP, said at the ‘Meetings of the Prince’ in Viareggio (Lucca), interviewed by conservative journalist Stefano Zurlo.

“Therefore we must be extra careful, because these are resources that commit future generations.”

ANSA

Italian News / House votes in favour of judicial career path separation

The Italian Lower House on Thursday gave the first green light to a bill to separate the career paths of prosecutors and judges, so they can no longer switch between the two roles.

Italian News / Wasp made alien by climate change destroying beehives

An Italian wasp which has turned into a more aggressive alien species due to climate change is wreaking havoc among Italian beehives, green farming officials told ANSA Tuesday.

Italian News / Explosions reported in Kyiv during Crosetto’s visit

Loud explosions and air raid sirens rang out in the Ukrainian capital Kyiv during a visit of Italian Defence Minister Guido Crosetto on Thursday.

Italian News / Blinken didn’t protest against Najafabadi’s release says Tajani

Foreign Minister Antonio Tajani on Thursday denied a report published by ‘Corriere della Sera’ claiming US Secretary of State Antony Blinken had protested the release of Mohammad Abedini Najafabadi.

Italian News / Italy welcomes Gaza ceasefire agreement

Italian Prime Minister Giorgia Meloni’s government has welcomed the agreement between Israel and Hamas for a ceasefire in Gaza.

Sport / Aussie wildcard scares Sinner as Open champ advances

World No.1 Jannik Sinner has survived an almighty scare to keep his Australian Open title defence alive with a hard-fought win over local wildcard Tristan Schoolkate.

Italian News / Badly burned boy resumes life with dad’s skin

A badly burned boy in Sicily has resumed his normal life as a four-year-old thanks to innovative surgery to heal his injuries using skin from his father, medical sources said Tuesday.

Community / Australia / Calabrian Australian to compete at World Bricklaying Championships in Las Vegas

Son of the trade, Damian Amuso, is set to head to the United States for an annual international competition you’ve probably never heard of.

Italian News / Go back to being housewives man tells fellow councillors

A Turin city councillor has caused a stir by telling female colleagues who were criticising him to go back to being housewives.

Arts & Culture / Mattarella attends Tosca’s 125th anniversary première

Italian President Sergio Mattarella was a special opening night guest on Tuesday at Rome’s Opera House for a special edition of Giacomo Puccini’s ‘Tosca’, to celebrate its 125th anniversary.

Comments