Finland's National Recovery and Resilience Plan: Latest state of play

Finland's National Recovery and Resilience Plan (NRRP) is part of the national sustainable growth programme and its main source of financing. Next Generation EU (NGEU) – the EU's response to the social and economic crisis triggered by the COVID-19 pandemic – initially envisaged an allocation of €2 090 million in grants to Finland under its Recovery and Resilience Facility (RRF). Following the update of all national allocations in June 2022, Finland's share was reviewed downwards to €1 820 million in grants. Consequently, the plan was revised to reflect these changes by reducing investments and replacing them partly with national support. A second revision added a REPowerEU chapter, under which Finland is to receive a maximum of €127 million in non-repayable financial support for energy-related reforms and investment. Finland's NRRP now totals €1 949 million, is worth 0.8 % of the country's gross domestic product (GDP) in 2019 and represents 0.3 % of the entire RFF. In terms of absolute numbers and per capita, it is among the lowest third of NGEU grant allocations by Member States. Finland has allocated 52.3 % of its NRRP to the green transition, in the service of its ambition to achieve carbon neutrality by 2035, while digital expenditure accounts for 28.9 % of the overall resources in the plan. The plan thus exceeds the minimum allocations required by the RRF Regulation, which are 37 % for the green transition and 20 % for digital transformation (the latter does not apply to the REPowerEU chapter). Finland has received pre-financing of about €271 million, representing 13 % of the plan's initial value in January 2022. The next payments, in six instalments, will depend on progress in implementing the plan. The first payment request for €273 million was submitted in November 2023. Finland has also asked for pre-financing of €25 million from the REPowerEU allocation. The European Parliament, which was a major advocate of the creation of a common EU recovery instrument, participates in interinstitutional forums for cooperation and discussion on its implementation and scrutinises the European Commission's work. This briefing is one in a series covering all EU Member States. Second edition. The 'NGEU delivery' briefings are updated at key stages throughout the lifecycle of the plans.