Finland Plans to Use EU Stimulus Funds for Green Recovery

The Government of Finland intends to invest European Union (EU) stimulus funds in reducing carbon emissions and fostering ecological sustainability. Finland will receive about EUR 2.3 billion from the EU’s Recovery and Resilience Facility during 2021–2023. These funds form part of the EUR 750 billion recovery fund that the EU is planning to provide to its member countries in the form of grants and loans.

A large share of the EUR 2.3 billion is earmarked for fostering the transition to a low-carbon economy, which is estimated to cost Finland more than EUR 1 billion. The government plans to invest the EU funds in six key themes: supporting education and research, cutting carbon emissions, improving competitiveness as well as access to social and health care, supporting the labour market, and boosting digitalization and infrastructure. The outline of the stimulus package was approved by the Finnish cabinet in late November and received parliamentary support in a debate on December 1.