The European Commission announced on Tuesday that it has positively evaluated Belgium’s third payment request for its recovery plan and is proposing to soon approve the release of €614 million in European funds to Belgium—comprising €594 million in grants and €20 million in loans.
The approval is pending the opinion of the Economic and Financial Committee, but the Commission believes Belgium has met its obligations by progressing with the reforms and investments outlined in its post-Covid recovery plan.
The entire plan relies on approximately €5.3 billion in European funds, predominantly grants. Following the initial “pre-financing,” this amount is released in stages based on Belgium’s achievements in making its economy greener, more resilient, and sustainable. The goals for this tranche include speeding up procedures for renewable energy project permits, investments in railways, housing renovations, and the creation of nursery places.
