EC approves Czechia's second recovery fund request

The European Commission (EC) has preliminarily approved Czechia's second payment request for 702 million euros from the National Recovery Plan, aimed at mitigating the impacts of the COVID-19 epidemic and the economic crisis, the EC said in a press release. The funding is to be spent on building high-capacity internet networks, reforestation, railways, digitisation, and oncology, among other things. Three EC advisory committees still have to assess the request before the money can be paid out, which is expected to happen in early April.

Czechia can draw money from the National Recovery Plan in nine payments. The EC approved the first payment in February last year.