Council of Ministers - EU Recovery Fund for the business location

The economic "comeback plan" to deal with the government's corona crisis was the subject of the Council of Ministers on Wednesday, April 14th. The EU recovery fund set up as a post-Covid program as a development and resilience plan enables the European member states to make non-repayable grants for sustainable and climate-relevant investments. This plan is divided into the three thematic blocks “Work”, “Greening & Digitization” and “Location Strengthening”, each of which is centrally supervised by a minister and the responsible ministers responsible for each of them in detail. The aim is to get half a million people back into regular employment within a year.

It is about 3,5 billion euros, said Finance Minister Gernot Blümel (ÖVP) after the Council of Ministers. In order to strengthen the location, the federal government wants to position Austria as competitively as possible within the European Union in order to create more incentives here to invest in Austria and to locate foreign companies. This is intended to create new jobs.

No investments in fossil fuel economy

According to the EU, however, there must be no investments in the fossil fuel economy, only in clean energies. "This is a novelty," said Environment and Transport Minister Leonore Gewessler (Greens). Another focus will be the careful use of resources and biodiversity, said Gewessler.

The crisis was not over yet, said European Minister Karoline Edtstadler (ÖVP). According to the requirements of the EU, 20 percent of the 3,5 billion euros would have to be invested in digitization and at least 37 percent in the fight against climate change - Austria would exceed these goals. "Austria will not leave any money behind and pick everything up", says Edtstadler. The countries must have submitted their specific plans by April 30th. (temp)