Finance Ministry expects trouble ahead for Green Deal fund


"Given that merely EUR 7.5 billion will be added to the planned EU budget for the next seven-year financial period, the ministerial debate has shown reluctance of certain member states regarding rerouting of funds from cohesion and agricultural programmes," wrote the Finance Ministry in today's press release.

According to the ministry, Finance Minister Andrej Bertoncelj pointed out that strong measures were needed, including obtaining a great amount of funds from public as well as private sources and thoroughly revamping economic policies while taking into account individual member states' energy needs.

The deal has already been a target of criticism, with Spain labelling it green but not just.

Last week, the EU Commission proposed an investment plan for meeting the targets of achieving climate neutrality by 2050 in a socially just way. The cornerstone of the plan is a just transition mechanism assisting the vulnerable regions where the process will come with the heftiest price tag.

One of the three pillars of this mechanism is the emerging EUR 7.5 billion-worth Just Transition Fund, which is expected to result in up to EUR 50 billion investments based on cohesion funds.

The question remains though how to secure that EUR 7.5 billion sum.

Prime Minister Marjan Šarec pointed out in December that measures striving for 2050 climate neutrality should not be carried out at the expense of cohesion funds or nuclear energy, which is, according to Šarec, key for Slovenia's green transition.