Czech National Recovery Plan ApprovedReading Time: < 1 minutes
The National Recovery Plan of the Czech Republic has been approved this week by EU finance ministers on one condition: that the country address conflict of interest issues involving some high-ranking politicians, in reference to Czech prime minister’s business empire. That means Czechia is set to receive over EUR 7 billion in funding from the EU’s Resilience and Recovery Fund.
According to the Czech Republic’s finance minister, Alena Schillerová, the funds will be used to further the country’s economic growth. The money will be spent on in six areas: infrastructure and green transition, digitization, education and the labor market, post-Covid regulatory and business support, research and innovation and health and resilience, with significant percentages going toward climate protection and economic digitization.
The conflict of interest involves Czech prime minister Andrej Babiš’s company, Agrofert, which earlier this year was subject to an audit by the EU and will not be allowed to access EU structural funds. Meanwhile, his country must submit a list of Czech politicians with business interests and come up with measures against conflicts of interest.
Meanwhile, recovery funding has been blocked for Poland and Hungary, to curb what Brussels see as their drift into authoritarian rule, although the European Commission says that the evaluation of those countries’ plans is still in progress.