ROME, April 26, 2021 (BSS/AFP) – Italy’s government unveiled a 222-billion-euro ($270-billion) post-Covid recovery plan Sunday — most of which would be financed by a special EU fund — a day before presenting it to parliament.
The EU coronavirus recovery fund will cover 191.5 billion euros of the total budget. Italy, the EU state hit hardest by the coronavirus, is the biggest recipient of the bloc’s 750-billion-euro post-pandemic recovery fund.
In its presentation, the government said the plan represented a significant investment in both young people and women, particularly hard hit by unemployment. Businesses will have financial incentives to recruit people from both categories.
The five-year plan, approved after talks between Prime Minister Mario Draghi and EU Commission chief Ursula von der Leyen, has six main elements, said a government spokesman.
Nearly 50 billion euros will go towards a push to get Italy’s internet network up to speed. Italy ranked fourth from the bottom in the European Commission’s latest index of digital competitiveness (DESI).
Nearly 68 billion euros will go towards a “green revolution and ecological transition”.
Projects include plans to increase recycling and to relaunch local public road and rail transport using less polluting vehicles. The government also wants to invest in renewable energy and explore hydrogen power, said the government spokesman.
Italy will put 31.4 billion euros towards modernising the country’s transport infrastructure, prioritising regional rail services and high-speed trains.
It will spend 31.9 billion euros on education on research, and more places for young children in creches and nursery schools.
And as part of its social inclusion initiative it will invest 22.4 billion euros in helping people get into the workplace, investing in women’s businesses for example.
There will be 18.5 billion euros set aside for work to reinforce preventive health work and the computerisation of the health care system.
At the same time, the government has vowed to modernise the country’s public administration system, getting younger people in and improving training.
Reforms will also try to speed up the court system and cut red tape in the country’s administrative procedures.
The plan will go before both chambers of parliament, starting Monday.