Belgium receives second tranche from European recovery fund

Belgium is entitled to 5 billion euros in subsidies and 264 million euros in loans from the recovery fund. The fund of about 650 billion euros was set up to help EU member states recover economically after the coronavirus pandemic by stimulating investments and reforms, particularly in the green and digital transition. The countries had to submit plans with various objectives and milestones.

The Belgian plan was approved back in June 2021, but the rollout did not go smoothly. It was only last year that our country received the first tranche. Now the Commission has given the green light for Belgium’s second payment request, amounting to 869 million in subsidies and 40 million in loans.

When the first tranche was approved, a part was withheld because the Commission was still waiting for information on the reform of the pension system. This has been resolved with the plans of the new government. “We show that Belgium is fulfilling its commitments and deserves the trust of the Commission,” says Van Peteghem.

With the second tranche, Belgium will have received a total of 1.55 billion. In the meantime, our country has initiated the process for a third payment request.