According to EU budget commissioner Johannes Hahn, the first tranche of the € 3.5 billion coronavirus aid for Austria will soon flow. “That will soon be the case,” said Hahn in response to a corresponding question from the “Tiroler Tageszeitung” (Saturday edition).
“It’s a down payment of 13 percent of the total. The remaining 87 percent follow the addresses of the goals set. ”Hahn also announced“ initiatives ”in connection with the rule of law.
The EU Commission approved the Austrian plan for the coronavirus recovery program in June. Austria receives EUR 3.5 billion in EU grants for projects that focus on rail and broadband expansion as well as eco-investments. The EU’s coronavirus reconstruction program provides a total of 800 billion euros in aid. It is financed through debts that are to be repaid by 2058.
Reluctant to take on further debt
When asked about further borrowing to cope with new crises, like Hahn, hesitant. “It was an extraordinary reaction to an extraordinary situation. In order to get the approval of all member countries, we are activating an article of the treaty which makes it clear that the borrowing is a temporary process, even if it will take until 2058 for the money to be paid back. “