Austria receives final €306 million NextGenerationEU payment

The European Commission has approved Austria’s fifth and final payment request of €306 million under the Recovery and Resilience Facility (RRF), a central component of the NextGenerationEU program. This approval marks the completion of Austria’s recovery and resilience plan, making it one of the Member States to have fully implemented 100% of its scheduled reforms and investments, totaling €3.96 billion.

The Commission confirmed that Austria successfully met all 8 remaining milestones and 10 targets established in the Council Implementing Decision. The completed investments cover several strategic sectors, including business decarbonization, sustainable mobility, the circular economy, biodiversity, innovation, and culture.

Key projects funded by this final installment include 19 major initiatives aimed at reducing greenhouse gas emissions in the industrial and transport sectors. Notable examples include energy efficiency improvements in industrial production and upgrades to the Koralm railway line, which reduces travel time between Graz and Klagenfurt from three hours to 45 minutes. Additionally, the funds support the expansion of high-speed broadband to over 80,000 rural households and various research and innovation initiatives to bolster long-term competitiveness.