The European Commission said on Friday it had given a positive preliminary assessment for a €3.26 billion ($3.54 billion) payment to France under the EU’s flagship recovery program, NextGenerationEU.
The disbursement, which would be the fourth installment under France’s Recovery and Resilience Plan, follows the implementation of key reforms and investments aimed at bolstering the country’s green and digital transitions.
The Commission said France had met the 17 milestones and targets required for the payment, which include expanding access to digital training in higher education and enhancing energy efficiency in public infrastructure.
“These measures are helping France to build a greener, more digital and competitive economy,” the Commission said in a statement.
Flagship Reforms
Among the flagship investments, the Commission highlighted the renovation of over 8.75 million square meters of public buildings to improve energy efficiency and upgrades completed in more than 680 schools.
More than 1.7 million students in the digital sector now have access to enhanced digital training capabilities.
The EU executive also pointed to reforms designed to reduce urban greenhouse gas emissions and improve the assessment of public spending quality.
Final approval
The Commission’s preliminary approval will now be reviewed by the EU’s Economic and Financial Committee, which has up to four weeks to deliver its opinion. A final green light would trigger the release of the €3.26 billion tranche.
France submitted the payment request on Jan. 21. Once the disbursement is made, France will have received €34.13 billion — covering around 82 percent of its total planned funding under the Recovery and Resilience Facility, part of the EU’s broader €800 billion post-pandemic recovery plan.
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