30 June 2022

The Commission published the new allocation of the Next Generation EU Funds. The new allocation depends on how a country has emerged from the economic crisis following the Covid-19 pandemic. 

Why is there a reallocation of Next Generation EU funds? 

Countries such as France or Belgium, which have come out of the crisis stronger and faster than expected, will see their funds reduced, while countries such as Spain or Italy, which have not reached the Commission’s expectations by 2020, will see their funds increased considerably. 

What is the final distribution? 

The part of the Next Generation EU that will see changes in the budget is each country’s share of the non-repayable funds. 

Country NGEU Funds 2021 NGEU funds 2022  
Belgium €5.9 bn  €4.5 Bn -€1.4 Bn 
Bulgaria  €6.3 bn  €5.6bn -€0.7 bn 
Czechia  €7.1 bn  €7.6 bn + €0.5 bn 
Denmark  €1.6 bn  €1.4 bn – €0.2 bn 
Germany €25.6 bn  €28 bn + €2.4 bn 
Estonia €1.0 bn  €0.8 bn -€0.2 bn 
Ireland  €1.0 bn  €0.9 bn -€0.1 bn 
Greece  €17.8 bn  €17.4 bn -€0.4 bn 
Spain  €69.5 bn  € 77.2 bn +€7.7 bn 
France  €39.4 bn  €37.4 bn -€2 bn 
Croatia  €6.3 bn  €5.5 bn -€ 0.8 bn 
Italy  €68.9 bn  €69 bn + €0.1bn 
Cyprus  €1.0 bn  €0.9 bn -€0.1 bn 
Latvia  €2.0 bn  €1.8 bn -€0.2bn 
Lithuania  €2.2 bn  €2 bn -€0.2bn 
Luxembourg  €0.1 bn  €0.08 bn -€0.02 bn 
Hungary  €7.2 bn  €5.8 bn -€1.4 bn 
Malta €0.3 bn  €0.2 bn -€0.1 bn 
Netherlands  €6.0 bn  €4.7 bn -€1.3 bn 
Austria  €3.5 bn  €3.7 bn + €0.2 bn 
Poland  €23.9 bn  €22.5 bn -€1.4 bn 
Portugal €13.9 bn  €15.5 bn + €1.6 bn 
Romania  €14.2 bn  €12.1 bn -€2,1 bn 
Slovenia  €1.8 bn  €1.4 bn -€0.4 bn 
Slovakia  €6.3 bn  €6 bn -€0.3 bn 
Finland  €2.1 bn  €1.8 bn -€0.3 bn 
Sweden  €3.3 bn  €3.1bn -€0.2 bn 

Do all European countries benefit from the reallocation? 

Spain is the country that benefits the most, followed by Italy and Germany. However, France ends up with a negative allocation, with 2 billion less than expected, or Romania, with a similar amount. Belgium, Poland and Croatia will also see a decrease in the amount received. 

However, it should be noted that this decrease in European funding is the result of the positive economic development of these countries. 

How much has each country received so far? 

Italy is the country that has received the most Next Generation EU funds, followed by Spain. The map below shows the total Next Generation EU funds received by each EU country as of June 2022. 

Timetable for receiving funds at the European level 

Although some countries have not yet received the first Next Generation EU disbursements, others, such as Spain, are well ahead in their payment requests. In addition, countries such as Cyprus, Portugal, Greece, Italy and Romania have already requested their first tranches in the form of loans, beyond the non-repayable funds. The following disbursement schedule shows the evolution of these disbursements: 

FI Group has 20 years of experience and wants to accompany you on the new NextGenerationEU path. Our experts are at your disposal to analyse how your project fits into the NextGenerationEU European recovery fund and to take the next steps together with you. 

Teresa Marina

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