The trick of the cohesion funds to extend the deadlines of the Pnrr to 2029

A trick for extend the Pnrr spending deadlines by three years, from 2026 to 2029. After pressure from the Italian government which hoped for an extension, some sources from the European Commission reported by Press suggest that a way has been found to extend the deadline by which European funds must be invested. The “trick”, as it has been defined, is as follows: use cohesion funds – which can be spent by 2029 – to finance projects already planned. In this way, Italy will have much more time available, while remaining within the stringent European constraints. However, there are conditions.

First of all the extension will have to be motivated by “objective circumstances” that prevent compliance with the 2026 deadline: the example that makes the Press it is the lack of raw materials, which requires a great expenditure of energy to be filled. But above all, it will be necessary to respect the “rules relating to co-financing”. This means, in essence, that if the cohesion funds are used, they will imply a national economic contribution, complementary to the European one. This would be 15 per cent of the total for less developed regions, 40 per cent for transition regions and 60 percent for the more developed ones. The postponement will therefore be possible, but at a high price.