Belgium aims to secure the full payment of EU recovery funds, with its final request due at the end of September, the office of Budget Minister Vincent Van Peteghem said on Monday.
The money comes from the EU’s NextGenerationEU programme, launched to revive the bloc’s economy after the Covid-19 pandemic and later partly refocused on the digital and energy transitions.
Its main instrument is the Recovery and Resilience Facility (RRF), which provides grants and loans to Member States.
Preparations in place to meet remaining targets
Under the scheme, Belgium was eligible for just over €5 billion in grants, along with about €230 million in loans.
To receive the funding, Member States must complete reforms and investments measured against agreed milestones and targets.
In recent years, delays and uncertainty surrounding pension reform had raised concerns that Belgium would miss the legal deadline of 31 August for delivering all of the measures agreed, and in some cases renegotiated, with the European Commission.
According to Van Peteghem’s office, that is no longer the case. The sixth and final payment request is scheduled for the end of September, and officials say all preparations are in place to meet the remaining milestones.
Accelerated pace of payment requests and disbursements
The minister’s office said the goal is to obtain the full amount of the funds and to demonstrate that Belgium has made up for delays during the previous parliamentary term.
It also said the pace of payment requests and disbursements had clearly accelerated. Under Van Peteghem, five payment requests will have been completed, compared with just one during the previous term.
Targeted amendments
The office said this had been made possible because the current government had implemented the reforms set out in the plan, including pension reform. It added that Van Peteghem had also negotiated several targeted amendments to the plan with the EU.
Belgium will not use its entire loan allocation, which has ultimately been reduced to nearly €210 million. This is due to the cancellation of EU financing for part of the redevelopment of the Schuman roundabout, and lower defence investment through the Federal Holding and Investment Company.
EU Member States have until 30 September to submit their final payment requests under the Recovery and Resilience Facility, while the European Commission must complete all payments by 31 December.
