EU heads of state meeting in Brussels under the German presidency of the council have finalised the EU budget for the next seven years and the one-off pandemic recovery fund.
ADVERTISEMENT
The news from the EU heads of state that agreement has been finally secured on the €1.8tn EU budget and recovery fund clears the way for CAP finalisation.
It also means that the money from the €7.5bn recovery fund for rural development that was to be front-loaded into the CAP transition period over the next two years can be resurrected.
Irish share
ADVERTISEMENT
The Irish share of this fund is €194m and it was intended that 30% of this would be released in 2021, with the remaining 70% distributed in 2022.
This had been put in jeopardy, as Hungary and Poland had threatened to veto the recovery fund budget because of conditions it was attaching to member states in relation to compliance with the rule of law.
Now that they have relented and multi-annual financial framework, which is the normal EU budget plus the one-off pandemic-related recovery fund is approved, the money will be in place to deliver Ireland’s €194m share of the €7.5bn allocated in the recovery fund.
Register for free to read this story and our free stories.
This content is available to digital subscribers and loyalty code users only. Sign in to your account, use the code or subscribe to get unlimited access.
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
CODE ACCEPTED
You have full access to the site until next Wednesday at 9pm.
CODE NOT VALID
Please try again or contact support.
The news from the EU heads of state that agreement has been finally secured on the €1.8tn EU budget and recovery fund clears the way for CAP finalisation.
It also means that the money from the €7.5bn recovery fund for rural development that was to be front-loaded into the CAP transition period over the next two years can be resurrected.
Irish share
The Irish share of this fund is €194m and it was intended that 30% of this would be released in 2021, with the remaining 70% distributed in 2022.
This had been put in jeopardy, as Hungary and Poland had threatened to veto the recovery fund budget because of conditions it was attaching to member states in relation to compliance with the rule of law.
Now that they have relented and multi-annual financial framework, which is the normal EU budget plus the one-off pandemic-related recovery fund is approved, the money will be in place to deliver Ireland’s €194m share of the €7.5bn allocated in the recovery fund.
If you would like to speak to a member of our team, please call us on 01-4199525.
Link sent to your email address
We have sent an email to your address. Please click on the link in this email to reset your password. If you can't find it in your inbox, please check your spam folder. If you can't find the email, please call us on 01-4199525.
ENTER YOUR LOYALTY CODE:
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
SHARING OPTIONS