EU Recovery Fund Faces Delays and Risks, Warns EU Court of Auditors

The EU's Recovery and Resilience Facility, a 724 billion euro fund to cushion the effects of the pandemic, is experiencing slow implementation by member states. Less than a third of the funds have been called up and less than 30% of the milestones have been reached.

This delay puts projects such as flood protection in Romania at risk of not being implemented on time. The delays are due to external factors such as supply shortages and increased prices, as well as administrative burdens.

Additionally, there have been difficulties in identifying the final beneficiaries of the funds. The auditors emphasize the need for transparency and warn of the risks in the second phase of the fund's implementation, which focuses on investments.

Several member states, including Belgium, Finland, Hungary, Ireland, Netherlands, Poland, and Sweden, have not received any post-pandemic funding by the end of 2023. Despite these challenges, the European Commission has not taken measures to stop funding incomplete actions or recover transfers.

Urgent action is required to ensure the efficient and timely utilization of the funds and to achieve the goals of the recovery fund.