21 ADD 1) of 8 September 2021 on the approval of the assessment of the recovery and resilience plan for Ireland - Main contents

Please note

This page contains a limited version of this dossier in the EU Monitor.

dossier	COM(2023)373 - Amendment of Implementing Decision (EU) (ST 11046/21 INIT; ST 11046/21 ADD 1) of 8 September 2021 on the approval of the ...
document	COM(2023)373
date	June 26, 2023

Article 1

Implementing Decision (EU) 11046/21 of 8 September 2021 on the approval of the assessment of the recovery and resilience plan for Ireland is amended as follows:

(1) Article 1 is replaced by the following:

“Article 1

Approval of the assessment of the RRP

The assessment of the amended RRP of Ireland on the basis of the criteria provided for in Article 19(3) of Regulation (EU) 2021/241 is approved. The reforms and investment projects under the RRP, the arrangements and timetable for the monitoring and implementation of the RRP, including the relevant milestones and targets, the relevant indicators relating to the fulfilment of the envisaged milestones and targets, and the arrangements for providing full access by the Commission to the underlying relevant data are set out in the Annex to this Decision.”;

(2) In Article 2, paragraph 1 is replaced by the following:

“The Union shall make available to Ireland a financial contribution in the form of non-repayable support amounting to EUR 914 368 618.³ An amount of EUR 914 368 618 shall be available to be legally committed by 31 December 2022 ”.

(3) The Annex is amended as follows:

(a) Section 1: Reforms and Investments under the Recovery and Resilience Plan is amended as follows:

(i) in point 1. Description of reforms and investments; A. Component 1: Advancing the green transition; A.2. Milestones, targets, indicators, and timetable for monitoring and implementation for non-repayable financial support, rows 1 and 2 are replaced by the following:

‘1	1.1 Derisking a Low cost Residential Retrofit Loan Scheme	Milestone	Establishment of the financial instrument: signature of contractual agreement between the relevant ministries and the SBCI and concluding the related investment strategy/policy	Signing of the agreement and publication of the related investment strategy/policy to ensure at least a medium-depth retrofit for at least 75% of disbursed loans	-	-	-	Q3	2023	The relevant ministries shall conclude an agreement with Strategic Banking Corporation of Ireland, and the financial instrument shall be established, including the related investment strategy/policy, specifying that at least 75% of loans under the loan guarantee scheme shall be disbursed for financing retrofit works. The agreement and the investment strategy/policy shall be in line with Commission’s Guidance Note of 22 January 2021 related to financial instruments, ensuring compliance inter alia with DNSH at the level of all downstream investments supported by the guarantee scheme. The agreement shall ensure that on average, these retrofit works shall achieve at least a medium-depth level renovation as defined in Commission Recommendation on Building Renovation (EU) 2019/786. The loans granted under the scheme shall not do significant harm to environmental objectives within the meaning of Article 17 of Regulation (EU) 2020/852, taking into account the description of the measure and the mitigating steps set out in the recovery and resilience plan in accordance with the DNSH Technical Guidance (2021/C58/01). In particular, the measure shall comply with relevant EU and national environmental legislation, and shall require the economic operators carrying out the construction works to ensure that at least 70% (by weight) of the non-hazardous construction and demolition waste (excluding naturally occurring material referred to in category 17 05 04 in the European List of Waste established by Decision 2000/532/EC of 3 May 2000 replacing Decision 94/3/EC establishing a list of wastes pursuant to Article 1(a) of Council Directive 75/442/EEC on waste and Council Decision 94/904/EC establishing a list of hazardous waste pursuant to Article 1(4) of Council Directive 91/689/EEC on hazardous waste (notified under document number C(2000) 1147)) generated on the construction site shall be prepared for re-use, recycling and other material recovery, including backfilling operations using waste to substitute other materials, in accordance with the waste hierarchy and the EU Construction and Demolition Waste Management Protocol.
‘2	1.1 Derisking a Low cost Residential Retrofit Loan Scheme	Milestone	First loan guarantee contract signed	The first participating credit institution signs the guarantee agreement under the scheme	-	-	-	Q3	2023	The contractual agreement to avail of the guarantee facility under the scheme shall have been signed by at least one participating credit institution and the guarantors.

(ii) in point 1. Description of reforms and investments; C. Component 3: Social and economic recovery and job creation; C.1. Description of the reforms and investments for non-repayable financial support; Reform: 3.8 Increasing the provision of social and affordable housing, paragraph 4 is replaced by the following: “The reform shall be completed by 30 September 2023.”;

(iii) in point 1. Description of reforms and investments; C. Component 3: Social and economic recovery and job creation; C.2. Milestones, targets, indicators, and timetable for monitoring and implementation for non-repayable financial support, rows 102, 103 and 104 are replaced by the following:

‘102	3.8 Increasing The Provision Of Social And Affordable Housing	Target	Homes made available for sale through the new Affordable Purchase scheme for homes on public lands	-	Number	100	Q3	2023	At least 100 homes shall have been made available for sale through the Affordable Purchase Scheme for homes on public lands. Eligibility shall have been assessed on the First Time Buyer income capacity and incapacity to afford the homes at open market values, and prioritised by, inter alia, their time living in the local authority area, and home size compared to the family size. Homes shall have been considered available for sale when construction has been completed and applications from eligible applicants have been accepted. Compliance with relevant EU and national environmental legislation, and with the DNSH requirements set out in milestone 101 shall have been ensured.
‘103	3.8 Increasing The Provision Of Social And Affordable Housing	Target	Homes delivered under the cost rental scheme	-	Number	450	Q3	2023	At least 450 homes shall have been completed and tenanted to middle income earners in urban centres with a reduction of at least 25% on open market values, as defined by a professional property valuer. Eligibility shall have been defined by the Minister in Regulations with reference to Statistical data on incomes. The scheme shall apply to homes in Dublin, Cork, Galway, Limerick, Waterford and the Greater Dublin area. Compliance with relevant EU and national environmental legislation, and with the DNSH requirements set out in milestone 101 shall have been ensured.
‘104	3.8 Increasing The Provision Of Social And Affordable Housing	Target	Homes made available for sale to purchasers who avail of the equity support scheme	-	Number	100	Q3	2023	At least 100 homes shall have been made available for sale to purchasers who avail of the equity support scheme. Subject to a measurable affordable need, purchasers shall avail of equity support of up to 30% of open market values. Compliance with relevant EU and national environmental legislation, and with the DNSH requirements set out in milestone 101 shall have been ensured.

(b) Section 2: Financial Support is amended as follows:

(i) in point 1. Financial contribution; 1.1. First Instalment (non-repayable support), rows 1, 102, 103, 104 and 2 are deleted;

(ii) ) in point 1. Financial contribution; 1.1. First Instalment (non-repayable support), the Instalment amount of “EUR 395 586 614” in the final row and column is replaced by “EUR 323 803 933”;

(iii) in point 1. Financial contribution; 1.2. Second Instalment (non-repayable support), the following rows are inserted after row 94:

1	1.1 Derisking a Low cost Residential Retrofit Loan Scheme	Milestone	Establishment of the financial instrument: signature of contractual agreement between the relevant ministries and the SBCI and concluding the related investment strategy/policy
2	1.1 Derisking a Low cost Residential Retrofit Loan Scheme	Milestone	First loan guarantee contract signed
102	3.8 Increasing The Provision Of Social And Affordable Housing	Target	Homes made available for sale through the new Affordable Purchase scheme for homes on public lands
103	3.8 Increasing The Provision Of Social And Affordable Housing	Target	Homes delivered under the cost rental scheme
104	3.8 Increasing The Provision Of Social And Affordable Housing	Target	Homes made available for sale to purchasers who avail of the equity support scheme

(iv) in point 1. Financial contribution; 1.2. Second Instalment (non-repayable support), the Instalment amount of “EUR 197 793 307” in the final row and column is replaced by “EUR 224 817 238”;

(v) in point 1. Financial contribution; 1.3. Third Instalment (non-repayable support), the Instalment amount of “EUR 197 793 307” in the final row and column is replaced by “EUR 182 873 724”;

(vi) in point 1. Financial contribution; 1.4. Fourth Instalment (non-repayable support), the Instalment amount of “EUR 148 344 980” in the final row and column is replaced by “EUR 137 155 293”;

(vii) in point 1. Financial contribution; 1.5. Fifth Instalment (non-repayable support), the Instalment amount of “EUR 49 448 326” in the final row and column is replaced by “EUR 45 718 429”;

Article 2

This Decision is addressed to Ireland.