Minister of Finance Matti Vanhanen (Centre) was photographed arriving for a government meeting at the House of the Estates in Helsinki on 7 April 2021. (Heikki Saukkomaa – Lehtikuva)

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THE MINISTRY OF FINANCE on Tuesday said Finland will delay presenting its recovery and resilience plan to the European Union until 15 May.

All EU member states are required to submit their plans to be eligible for funding disbursed under the 672-billion-euro Recovery and Resilience Facility of the EU. Finland was originally scheduled to present its plan on 30 April.

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“Discussions with the European Commission have progressed well but have yet been completed. There is a lot of technical work, so more time is required to complete the final recovery and resilience plan,” told Minister of Finance Matti Vanhanen (Centre).

Finland is presently estimated to receive about 2.7 billion euros from the recovery package, whereas its contribution toward the facility will add up to 6.6 billion euros in 2028–2058. The country has yet to give its final approval for the package, as the approval process is still ongoing in the Parliament.

The government published a preliminary plan for using its share in March.

Almost half of the funding received from the facility – roughly 822 million euros – is set to be used to significantly accelerate the shift away from fossil toward sustainable fuels. The funding would also be used to promote digitalisation, employment, skills development and social and health care services.

Aleksi Teivainen – HT