EC backs Finland's COVID-19 recovery plan

European Commission President Ursula von der Leyen on Monday backed Finland's recovery and resilience plan, which comes as part of the European Union's (EU) multi-billion pandemic recovery fund.

Prime Minister Sanna Marin and Ursula von der Leyen met in Helsinki and discussed topical EU matters. Later they visited the VTT Technical Research Centre of Finland, where they learned about a project related to the priorities of Finland’s Recovery and Resilience Plan. In connection with the visit, the Commission published a positive assessment of Finland’s plan, said an official press release.

Von der Leyen said the Commission applauded Finland's goal of becoming carbon neutral by 2035, noting that the country has devoted 50 percent of its plan to Green Transition. It will also devote 27 percent of its plan to supporting digital transition, helping it remain a leader in this field, reported Xinhua.

At a press conference at the VTT Technical research center outside Helsinki, both Von der Leyen and Prime Minister Sanna Marin underlined the importance of the EU recovery plans for the future.

Marin noted that the plan is about rebuilding economies from the bottom up, adding: "It is much more than just a stimulus package."

Earlier that day, the Commission President had seen Finnish quantum computing, which is included in two investment priorities of Finland's recovery plan.

The Council of the European Union will decide on whether to approve Finland's plan in about four weeks' time. If it gets the green light, Finland will receive 13 percent of the EU funding reserved for the plan as an advance payment.

All EU countries are required to present a national recovery and resilience plan if they are to receive funding from the stimulus package, which consists of 806.9 billion euros under the NextGenerationEU Recovery Fund, combined with the EU's long-term budget.

Finland submitted its plan in May, and should receive its first tranche of funding, 272 million euros, at the end of the year -- as long as the member states give their backing.