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Sustainable Growth Programme for Finland
Finland will update its Recovery and Resilience Plan

Ministry of Finance
Publication date 30.6.2022 12.37
Press release
Sustainable Growth Programme for Finland.

Finland's share of funding from the EU's Recovery and Resilience Facility will decrease to EUR 1.8 billion at current prices, because Finland’s economy has developed better than forecast. Finland will receive a total of EUR 2.6 billion at current prices from the programmes in the EU's recovery plan (NextGenerationEU). The Ministerial Working Group on Sustainable Growth in Finland has outlined how Finland's Recovery and Resilience Plan will be updated to reflect this change.

When the EU approved the Regulation on the Recovery and Resilience Facility (RRF) last year, Finland’s share of RRF funding was estimated to be EUR 2.1 billion. On this basis, it was estimated that Finland would receive a total of EUR 2.9 billion in funding from the EU’s recovery plan. The EU’s recovery plan is divided into seven programmes, of which the RRF is the largest. 

The Commission has updated information on how much funding Member States will receive from the RRF. The changes account for the economic development of the Member States last year and the year before last. Finland will receive less funding, because Finland’s economy has developed better than forecast. Correspondingly, countries with economies that have suffered badly from the COVID-19 crisis will receive more funding.

Finland using EU funding to boost reforms and investments

The Ministerial Working Group on Sustainable Growth in Finland has outlined how Finland’s Recovery and Resilience Plan will be updated to reflect this change. The Recovery and Resilience Plan is part of the Sustainable Growth Programme for Finland, which will boost reforms and investments.

The reforms and investments will focus on four key elements:

  1. Green transition
  2. Digitalisation
  3. Employment and skills
  4. Health and social services

The ministerial working group outlined that, among other things, the EUR 70 million support for phasing out oil heating would be dropped from Finland’s Recovery and Resilience Plan. In the ministerial working group's outline, EUR 40 million of this would be replaced by national support. The EUR 20 million in support for private charging infrastructure for electric vehicles would also be left out of the Recovery and Resilience Plan. In the ministerial working group’s outline, charging infrastructure would receive at least EUR 10 million euros in national support.

First, the Finnish Government will approve the updated Recovery and Resilience Plan. Next, the European Commission will assess the updated plan and, finally, the Council of the EU will approve it.

Inquiries:

Laura Vartia, Senior Ministerial Adviser, tel. +358 29 553 0228, laura.vartia(at)gov.fi
Marketta Henriksson, Head of Secretariat for EU Affairs, tel. +358 295 530 441, marketta.henriksson(at)gov.fi

Funded by the European Union – Next Generation EU.

Economic Policy
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