The European Commission has approved the disbursement of €591 million to Slovakia under the NextGenerationEU (NGEU) program, aimed at supporting member states’ recovery from the economic fallout of the COVID-19 pandemic. This funding marks a significant step in reinforcing Slovakia’s economic resilience and is aligned with the EU’s broader strategy to promote sustainable growth and transformation.
The allocated funds will be utilized to finance various projects focusing on digital transformation, green transition, and social cohesion. Slovakia’s recovery plan emphasizes investments in energy efficiency, renewable energy, and digital infrastructure, which are essential for modernizing the country’s economy and ensuring sustainable development.
European Commissioner for Economy, Paolo Gentiloni, highlighted that this payment not only aims to boost Slovakia’s economic recovery but also reinforces the EU’s commitment to a greener and more digital Europe. The funds will enable Slovakia to implement necessary reforms and investments that support job creation and enhance the overall quality of life for its citizens.
As part of the NGEU framework, the payment underscores the EU’s solidarity in response to the pandemic while fostering long-term strategic objectives, such as climate action and technological innovation. This initiative epitomizes the unity and cooperative spirit of member states in navigating post-pandemic recovery.
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