The EU Council has approved amendments to the Recovery and Resilience Plans submitted by Cyprus, Greece, and Spain during the Economic and Financial Affairs Council meeting in Brussels. These amendments, reviewed by the European Commission, were deemed consistent with the plans' goals of relevance, efficiency, and coherence.

• Cyprus: Requested modifications on October 25, 2024, with the plan totaling €1.2 billion in grants and loans.

• Greece: Submitted changes on October 21, 2024, amounting to €36.6 billion.

• Spain: Revised its plan on December 3, 2024, amounting to €163 billion.

The Recovery and Resilience Facility, a cornerstone of the NextGenerationEU program, was established to support EU economies in recovering from the COVID-19 pandemic. It has since been adapted to address energy security challenges resulting from Russia's invasion of Ukraine.

Each nation's plan, developed with the European Commission, outlines key reforms and investments tied to specific milestones. Completion of these milestones by August 31, 2026, will unlock the corresponding funding. To date:

• All national plans have been approved.

• 86 payment requests have been processed.

• Over €306 billion has been disbursed.