Mobility Portal, Spain
Date: January 18, 2024
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By Mobility Portal
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France requests a new tranche of €7.5 billion from the Next Generation funds

Bruno Le Maire submitted a request to the European Commission to receive the third payment in 2024 from the European Next Generation funds. These funds will be used to finance the installation of over 1,600 vehicle charging points on roads, among other things.
Bruno Le Maire France Next Generation

On Tuesday, Bruno Le Maire, French Minister of Economy and Finance, submitted a request to the European Commission to receive the third payment in 2024 from the Next Generation European funds, in this case, 7.5 billion euros.

These new 7.5 billion euros will be used to finance over one million apprenticeship contracts signed between 2021 and 2023, the renewal of over 700 kilometers of secondary railway lines, the establishment of more than 1,600 electric vehicle charging points on roads, or the energy renovation of nearly 22 million square meters of building roofs.

In a statement, the Department of Economy and Finance highlighted that it has already received nearly 60 per cent of the grants it has requested from the economic recovery plan, placing it in the “first position” among the European Union member states.

Specifically, it has already obtained 23 billion euros in grants after the payment of more than 10 billion euros at the end of 2023 as an advance for the second payment.

The Ministry also emphasized that the “historic agreement” to establish this 750 billion euros plan, financed through a common debt issuance, was made “under the impetus of France and Germany.”

In total, France expects to receive 40 billion euros from the Next Generation funds, contributing to its 100 billion euros recovery plan implemented since 2020.

Source: EFECOM

Read more: PFA “unconcerned” about threats from Chinese companies regarding establishment in France: “The System is Working”

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