EU Commission urges faster implementation of investment, reforms to spend EU's Recovery Fund
EU governments have some 750 billion euros available to them, in grants and cheap loans, to spend on making their economies greener and more digitalised under the EU's Recovery and Resilience Facility (RRF) -- a joint borrowing programme to rebuild economies after the pandemic.
So far, the Commission has disbursed 315 billion euros of the total as governments have met over 2,000 agreed milestones and targets that the EU payouts depend on.
The deadline for meeting all the agreed milestones and targets is on August 31, 2026.
"With these deadlines fast approaching, and more than 335 billion euros in funding still available to Member States, it is vital to accelerate the implementation of the RRF," the Commission said.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
26 minutes ago
- Reuters
Corning staves off antitrust fine as EU regulators accept concessions to mobile phone makers
BRUSSELS, July 18 (Reuters) - EU antitrust regulators on Friday accepted glass maker Corning's (GLW.N), opens new tab offer to waive exclusive deals with mobile phone makers and glass processing companies and scrap purchasing clauses to end an eight-month long investigation and stave off a possible fine. The U.S. company, which sells a break resistant glass used as a cover for mobile phones, tablets and smart watches under the Gorilla Glass brand, counts Samsung ( opens new tab, Sony (6758.T), opens new tab, Google (GOOGL.O), opens new tab, HP (HPE.N), opens new tab, Dell (DELL.N), opens new tab and Nokia ( opens new tab as its customers. Apple (AAPL.O), opens new tab is reportedly a customer too. Corning submitted concessions to the European Commission in November last year. Corning has now agreed "to waive all exclusive dealing clauses in all its current agreements with OEMs (original equipement makers) and finishers", the EU antitrust enforcer said in a statement. It will also not require OEMs to purchase, or cause their supply chain to purchase, more than 50% of their demand from the company. The offer is valid for 9 years. EU antitrust violations can cause companies as much as 10% of their turnover.
Scottish Sun
27 minutes ago
- Scottish Sun
Spanish city introduces strict new limits on tourists and it affects thousands a day
Plus, what exploring one of the city's top destinations is like SI-YA Spanish city introduces strict new limits on tourists and it affects thousands a day Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) THE popular Spanish city destination of Barcelona is due to limit the number of cruises entering the city. New plans to demolish two terminals at the Port of Barcelona have been revealed. Sign up for Scottish Sun newsletter Sign up 3 Barcelona is reducing the number of cruise terminals in its port Credit: Reuters Two terminals will be completely demolished - A and B - with terminal C also being demolished to make way for a new terminal on the site. In total, the number of terminals will be reduced from seven to five. As part of the €185million (£160.95million) scheme, the new terminal will serve around 7,000 passengers "at any given time". However, the changes will mean that Barcelona's maximum cruise capacity will reduce from 37,000 passengers to 31,000 per day. The reduction in cruise terminals follows increasing local backlash against overtourism impacting the city. The cruise hub is one of the key hubs in the Mediterranean. According to Travel Weekly, Barcelona mayor Jaume Collboni said: "For the first time in history, a limit is being placed on the growth of cruises in the city." Cruise passengers increased by 20 per cent between 2018 and 2024, without any capacity limits. The Mayor added: "The current management of tourism involves setting limits and managing better." In a statement, the Port of Barcelona said: "The agreement signed today acknowledges that maritime tourism is an economic sector with a significant weight in the city, but specifies that it requires planning and management measures, just as is already happening in other tourism sectors such as accommodation, mobility, public spatial planning or taxation. The ultimate cruising experience - From Universal Studios to Florida's Everglades onboard the Icon of the Seas "This agreement consolidates the joint commitment of both the Port and the City Council to move towards a more orderly and efficient maritime tourism model that respects the urban and environmental setting of Barcelona." The plans also include a regular shuttle service for passengers. Information screens will be installed in the terminals too, providing real-time information to help better spread out visitors and reduce crowds in the busiest areas of the city. Work on getting rid of terminals A and B will start by the end of 2026 and the entire project is set to be completed in 2030. Additionally, there is a €50million (£43million) plan to overhaul the area where terminals A and B currently are - eventually offer travellers improved services. And there will be a €90million (£77.9million) expansion to the Porta d'Europa bridge which links the wharf with the city. Once complete, the bridge will have bike and walking routes. 3 Overall, the port will reduce from seven terminals to five Credit: Getty In 2024, Spanish ports received 12.8million cruise passengers - 3.7million of whom were to Barcelona port. Barcelona first started to scale back cruise operations to the city in 2018, when it moved most operations from the city centre to Adossat Wharf. By 2023, the city had closed the North Terminal - which is located at the end of the famous Las Ramblas. And in the past years, Barcelona has more widely battled against issues of overtourism with many locals taking to protesting about the number of holidaymakers in the city. Last year, the city also announced that by 2029 it would ban all short-term rentals in an attempt to ease the current housing crisis. Exploring Las Ramblas in Barcelona TRAVEL reporter Cyann Fielding shares her thoughts on one of the biggest tourist traps in the world, that happens to be in Barcelona. According to Nomad - an international eSim company, Las Ramblas is the second worst tourist trap in the world and the top in Europe - based on 826 reviews. But the spot actually holds so much history and is one of the most fascinating destinations to explore - and it has come a long way from it's origins. As you wander down the street, make sure to stop off at Casa Beethoven - essentially Harry Potter's Ollivanders but for sheet music not wands. Just down from Casa Beethoven is La Boqueria market - one of Europe's largest and most famous food markets. Heading on from the market, make sure to look out on the floor for a mosaic by artist Joan Miró, who lived in Barcelona. Carrying on, make sure to take a detour down Carrer Nou de La Rambla to see Palau Güell - which people often miss not knowing it is there. I think part of the reason why so many people walk away from Las Ramblas either overwhelmed or disappointed, is because they don't know its history or the top places to explore. And there are pickpockets, so you just need to be wary. But by taking your time and exploring the routes different sections and side streets, it makes a great day out immersing yourself in Spanish - and more specifically - Barcelonan culture. More widely, Spain has also just introduced rules that can cost Brits £5,992 at the border – it's an easy mistake that thousands could make. Plus, the little-known way to travel across Spain by train for free this summer.
Reuters
28 minutes ago
- Reuters
Prosus offers to slash Delivery Hero stake to address EU concerns about Just Eat deal
BRUSSELS, July 18 (Reuters) - Prosus has offered to slash its Delivery Hero ( opens new tab stake to below 10% and give up its board seat to address EU concerns over its 4.1 billion euro ($4.78 billion) Just Eat Takeaway ( opens new tab deal, a person with direct knowledge of the matter said on Friday. Prosus, which is majority owned by South Africa's Naspers (NPNJn.J), opens new tab, earlier said it had offered remedies to the European Commission but did not provide details. The company's assurances to the Commission that it does not control nor influence the German meal delivery company Delivery Hero despite its 27.4% stake failed to convince the EU competition enforcer, people with direct knowledge of the matter said. Delivery Hero and Just Eat Takeaway compete with each other in Austria, Bulgaria, Italy, Poland and Spain. Delivery Hero and its Spanish unit Glovo were fined 329 million euros by the EU antitrust watchdog last month for taking part in a cartel which included an agreement not to poach each other's employees. "We have submitted remedies that directly and comprehensively address the concerns expressed in their preliminary assessment, with a view to obtaining a Phase 1 approval," Prosus said in a statement ($1 = 0.8585 euros)
