Council gives go-ahead to Malta’s recovery plan
Economy and finance ministers today adopted a Council implementing decision on the approval of the recovery and resilience plan for Malta. The decision is the final step for Malta in accessing the EU’s recovery fund.
Malta’s national plan feeds into the overall objective of the Recovery and Resilience Facility (RRF) to better equip Europe’s economy for present and future challenges. The facility’s €672.5 billion (2018 prices) aims to fuel the EU’s recovery from the COVID-19 fallout and to support the energy and ecological transition of the European economy.
“I’m very pleased to deliver the good news that we adopted Malta’s recovery and resilience plan today. With its strong focus on climate and digital targets, the plan puts Malta on the right track to a more sustainable and resilient economy. We have now adopted 19 plans and I am confident that others will soon follow. By making the best possible use of these unprecedented EU recovery fund resources, the member states can improve the overall situation in Europe and improve its position on the global stage.” – Andrej Šircelj, Slovenia’s Minister for Finance.
The reforms and investments outlined in Malta’s recovery plan centre on green and digital efforts, growth potential, and health and institutional resilience. With 54% of the plan’s total allocation dedicated to climate objectives, it will contribute to sustainable transport goals by funding a new ferry-landing site and providing free public transport for a wider range of citizens. Malta also intends to renovate buildings to make them more energy-efficient and to improve its waste management system.
In addition, 26% of the plan’s total allocation will fund measures supporting the digitalisation of public administration, the health sector and the justice system. Other improvements in these areas include strengthening the judiciary to enhance anti-corruption and anti-money laundering efforts, as well as investing in a blood, tissue and cell centre in order to raise the resilience of the health system. Furthermore, a number of measures aim to prevent early school leaving and contribute to the upskilling and reskilling of adults.
Member states can request payments of the financial contribution twice a year and will receive the money if they have met the milestones and targets set in their national plan. To enable a fast response to the pandemic crisis, a bigger part of EU’s financial support should reach member states by the end of 2022.
Source: Council of Europe