Italy asks EU Commission to release final NRRP funding tranche

Italy's cabinet has sent a formal request to the European Commission for the concluding tranche of financing under the National Recovery and Resilience Plan (NRRP). European Affairs Minister Tommaso Foti explained that the submission follows several recent revisions by Prime Minister Giorgia Meloni's government to satisfy the plan's milestone requirements. The NRRP is backed by €194.4 billion in EU grants and low-interest loans from the NextGenerationEU recovery fund, targeting a greener, more modern economy.

Each tranche is released only after specific investment and structural-reform benchmarks are achieved. Officials warned that missing these targets could jeopardize the remaining funding. Foti described the effort as an unprecedented transformation for Italy.